Ingredion Inc (INGR) Holding Grow by Prudential Financial Inc.

Ingredion Inc (INGR) Holding Grow by Prudential Financial Inc.

Prudential Financial Inc. increased its position in Ingredion Inc (NYSE:INGR) by 8.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 381,695 shares of the company’s stock after buying an additional 30,041 shares during the period. Prudential Financial Inc.’s holdings in Ingredion were worth $45,967,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Ingredion during the fourth quarter worth $87,043,000. AQR Capital Management LLC boosted its stake in shares of Ingredion by 32.6% in the fourth quarter. AQR Capital Management LLC now owns 2,147,327 shares of the company’s stock worth $268,330,000 after buying an additional 528,513 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Ingredion during the fourth quarter worth $21,349,000. Allianz Asset Management AG boosted its stake in shares of Ingredion by 15.1% in the fourth quarter. Allianz Asset Management AG now owns 1,242,575 shares of the company’s stock worth $155,273,000 after buying an additional 163,345 shares during the period. Finally, KAMES CAPITAL plc boosted its stake in shares of Ingredion by 31.1% in the first quarter. KAMES CAPITAL plc now owns 649,116 shares of the company’s stock worth $78,173,000 after buying an additional 153,899 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Ingredion Inc (INGR) traded down 0.38% during midday trading on Wednesday, reaching $114.09. The company’s stock had a trading volume of 773,079 shares. Ingredion Inc has a 1-year low of $113.07 and a 1-year high of $140.00. The stock’s 50-day moving average price is $119.52 and its 200 day moving average price is $121.49. The firm has a market capitalization of $8.17 billion, a PE ratio of 17.66 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.07. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Ingredion had a return on equity of 21.08% and a net margin of 8.33%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.74 EPS. Equities analysts anticipate that Ingredion Inc will post $7.56 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Friday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.75%. Ingredion’s dividend payout ratio is currently 30.77%.

A number of equities research analysts recently weighed in on INGR shares. Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. BMO Capital Markets restated a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Wednesday, April 12th. Stephens cut Ingredion from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $143.80.

About Ingredion

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “INGR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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