Assenagon Asset Management S.A. Has $2.42 Million Stake in Ingredion Incorporated (NYSE:INGR)

Assenagon Asset Management S.A. raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,928 shares of the company’s stock after purchasing an additional 2,295 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ingredion were worth $2,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Ingredion by 1.9% in the 4th quarter. First Trust Advisors LP now owns 583,081 shares of the company’s stock worth $80,209,000 after buying an additional 10,703 shares during the last quarter. Magnetar Financial LLC boosted its holdings in shares of Ingredion by 606.2% in the 4th quarter. Magnetar Financial LLC now owns 38,023 shares of the company’s stock worth $5,230,000 after buying an additional 32,639 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new position in shares of Ingredion in the 4th quarter worth about $963,000. Prudential Financial Inc. boosted its holdings in shares of Ingredion by 93.2% in the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company’s stock worth $89,790,000 after buying an additional 314,912 shares during the last quarter. Finally, Level Four Advisory Services LLC lifted its holdings in Ingredion by 6.7% during the fourth quarter. Level Four Advisory Services LLC now owns 35,428 shares of the company’s stock valued at $4,874,000 after purchasing an additional 2,210 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR opened at $137.63 on Tuesday. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44. The business has a fifty day moving average price of $135.00 and a 200-day moving average price of $134.61. The company has a market capitalization of $8.85 billion, a PE ratio of 14.17, a PEG ratio of 1.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm posted $2.08 EPS. The company’s revenue was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion’s dividend payout ratio (DPR) is presently 33.76%.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president now owns 31,996 shares in the company, valued at $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

INGR has been the topic of several analyst reports. Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 8th. UBS Group set a $155.00 price target on Ingredion in a research note on Tuesday, April 22nd. Finally, Oppenheimer dropped their price target on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.20.

Ingredion Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.