Wendell David Associates Inc. Continues to Hold Stake in Ingredion Inc (INGR)
Wendell David Associates Inc. maintained its stake in Ingredion Inc (NYSE:INGR) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,000 shares of the company’s stock at the end of the first quarter. Wendell David Associates Inc.’s holdings in Ingredion were worth $361,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Global X Management Co. LLC boosted its stake in shares of Ingredion by 58.0% in the third quarter. Global X Management Co. LLC now owns 771 shares of the company’s stock valued at $103,000 after buying an additional 283 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ingredion during the fourth quarter valued at about $125,000. Focused Wealth Management Inc acquired a new stake in shares of Ingredion during the fourth quarter valued at about $125,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Ingredion during the fourth quarter valued at about $169,000. Finally, Stanley Laman Group Ltd. acquired a new stake in shares of Ingredion during the third quarter valued at about $194,000. 85.31% of the stock is owned by institutional investors and hedge funds.
Ingredion Inc (NYSE:INGR) traded down 0.12% during trading on Friday, reaching $121.22. 143,124 shares of the company’s stock traded hands. Ingredion Inc has a 1-year low of $104.24 and a 1-year high of $140.00. The firm has a market capitalization of $8.70 billion, a PE ratio of 18.51 and a beta of 0.73. The firm has a 50 day moving average of $120.40 and a 200 day moving average of $123.96.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.04. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Ingredion had a net margin of 8.33% and a return on equity of 21.08%. Ingredion’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 earnings per share. Equities analysts forecast that Ingredion Inc will post $7.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Friday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.65%. Ingredion’s dividend payout ratio (DPR) is 30.77%.
INGR has been the subject of several research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research note on Friday, February 3rd. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Friday, January 20th. Stephens lowered shares of Ingredion from an “overweight” rating to an “equal weight” rating in a report on Friday, February 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a report on Wednesday, April 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Ingredion currently has a consensus rating of “Hold” and an average target price of $143.80.
Ingredion Company Profile
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.
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