DAVENPORT & Co LLC reduced its stake in shares of Ingredion Inc (NYSE:INGR) by 16.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,248 shares of the company’s stock after selling 2,241 shares during the period. DAVENPORT & Co LLC’s holdings in Ingredion were worth $1,065,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC bought a new stake in Ingredion during the first quarter valued at about $28,000. Capital Investment Advisory Services LLC acquired a new position in shares of Ingredion during the fourth quarter valued at about $30,000. Lavaca Capital LLC acquired a new position in shares of Ingredion during the fourth quarter valued at about $48,000. Oregon Public Employees Retirement Fund raised its position in shares of Ingredion by 10,975.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock valued at $50,000 after buying an additional 4,498,125 shares during the last quarter. Finally, Kinneret Advisory LLC acquired a new position in shares of Ingredion during the fourth quarter valued at about $77,000. Institutional investors and hedge funds own 89.00% of the company’s stock.
NYSE INGR opened at $84.55 on Friday. The company has a market cap of $5.78 billion, a PE ratio of 12.22, a PEG ratio of 1.12 and a beta of 0.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.41 and a quick ratio of 1.45. Ingredion Inc has a 1-year low of $82.32 and a 1-year high of $116.39.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 1st were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $2.50 annualized dividend and a dividend yield of 2.96%. Ingredion’s dividend payout ratio (DPR) is currently 36.13%.
Several research firms recently issued reports on INGR. Vertical Group lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Zacks Investment Research lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Seaport Global Securities assumed coverage on shares of Ingredion in a research report on Thursday, February 21st. They issued a “buy” rating for the company. Finally, TheStreet lowered shares of Ingredion from a “b-” rating to a “c+” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $118.50.
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Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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