State of New Jersey Common Pension Fund D trimmed its position in Ingredion Incorporated (NYSE:INGR – Get Rating) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,181 shares of the company’s stock after selling 2,030 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Ingredion worth $2,672,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new stake in shares of Ingredion in the second quarter worth about $26,000. Pinnacle Bancorp Inc. increased its holdings in shares of Ingredion by 54.3% in the second quarter. Pinnacle Bancorp Inc. now owns 355 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Ingredion in the third quarter worth about $33,000. New Century Advisors LLC increased its holdings in shares of Ingredion by 84.4% in the second quarter. New Century Advisors LLC now owns 461 shares of the company’s stock worth $41,000 after purchasing an additional 211 shares during the last quarter. Finally, Trust Co. of Vermont bought a new stake in shares of Ingredion in the second quarter worth about $51,000. 85.70% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on INGR shares. UBS Group started coverage on Ingredion in a research report on Friday, September 30th. They set a “neutral” rating and a $89.00 price objective on the stock. StockNews.com raised Ingredion from a “hold” rating to a “buy” rating in a research report on Thursday, November 17th. Finally, Credit Suisse Group boosted their target price on Ingredion from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, November 7th.
Ingredion Stock Performance
Ingredion (NYSE:INGR – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.73 EPS for the quarter. The company had revenue of $2.02 billion for the quarter. Ingredion had a return on equity of 14.62% and a net margin of 5.77%. Sell-side analysts predict that Ingredion Incorporated will post 7.06 earnings per share for the current year.
Ingredion Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Monday, January 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, December 29th. Ingredion’s dividend payout ratio (DPR) is presently 42.90%.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.
- Get a free copy of the StockNews.com research report on Ingredion (INGR)
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