Park Avenue Securities LLC Makes New $217,000 Investment in Ingredion Incorporated (NYSE:INGR)

Park Avenue Securities LLC bought a new position in Ingredion Incorporated (NYSE:INGRGet Rating) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,701 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also bought and sold shares of INGR. Millennium Management LLC boosted its stake in Ingredion by 943.1% in the second quarter. Millennium Management LLC now owns 628,246 shares of the company’s stock worth $55,386,000 after buying an additional 568,015 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Ingredion by 4,100.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock worth $29,704,000 after buying an additional 332,719 shares in the last quarter. Bank of Montreal Can boosted its stake in Ingredion by 89.7% in the second quarter. Bank of Montreal Can now owns 334,722 shares of the company’s stock worth $30,523,000 after buying an additional 158,303 shares in the last quarter. State Street Corp boosted its stake in shares of Ingredion by 7.1% during the first quarter. State Street Corp now owns 2,364,523 shares of the company’s stock valued at $207,518,000 after purchasing an additional 155,995 shares during the period. Finally, abrdn plc purchased a new stake in shares of Ingredion during the second quarter valued at approximately $13,538,000. Hedge funds and other institutional investors own 85.70% of the company’s stock.

Ingredion Price Performance

Shares of Ingredion stock opened at $101.34 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.56. The company has a market cap of $6.64 billion, a PE ratio of 15.31 and a beta of 0.76. The business has a 50 day moving average of $98.70 and a 200 day moving average of $91.32. Ingredion Incorporated has a 52 week low of $78.81 and a 52 week high of $105.24.

Ingredion (NYSE:INGRGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $1.73 EPS for the quarter. The company had revenue of $2.02 billion during the quarter. Ingredion had a return on equity of 14.62% and a net margin of 5.77%. As a group, equities research analysts forecast that Ingredion Incorporated will post 7.06 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 24th. Shareholders of record on Monday, January 2nd were issued a $0.71 dividend. The ex-dividend date was Thursday, December 29th. This represents a $2.84 dividend on an annualized basis and a yield of 2.80%. Ingredion’s dividend payout ratio (DPR) is 42.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com raised Ingredion from a “hold” rating to a “buy” rating in a research note on Thursday, November 17th. UBS Group assumed coverage on Ingredion in a research note on Friday, September 30th. They set a “neutral” rating and a $89.00 price objective for the company. Credit Suisse Group increased their price objective on Ingredion from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, November 7th. Barclays lowered Ingredion from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $105.00 to $110.00 in a research note on Monday. Finally, Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $100.00 to $120.00 in a report on Tuesday, January 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $104.75.

Ingredion Profile

(Get Rating)

Ingredion, Inc engages in the manufacture and sale of sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials. Its activities include turning corn, tapioca, potatoes and other vegetables and fruits into value added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, and other industries.

Further Reading

Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Incorporated (NYSE:INGRGet Rating).

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.