Forsta AP Fonden Increases Stake in Ingredion Inc (INGR)

Forsta AP Fonden boosted its holdings in Ingredion Inc (NYSE:INGR) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,301 shares of the company’s stock after purchasing an additional 12,142 shares during the quarter. Forsta AP Fonden owned approximately 0.29% of Ingredion worth $23,502,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of INGR. D.A. Davidson & CO. bought a new position in shares of Ingredion during the 1st quarter valued at approximately $349,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Ingredion by 18.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 17,290 shares of the company’s stock valued at $2,231,000 after acquiring an additional 2,665 shares during the last quarter. Aperio Group LLC boosted its position in shares of Ingredion by 21.5% during the 1st quarter. Aperio Group LLC now owns 108,431 shares of the company’s stock valued at $13,979,000 after acquiring an additional 19,208 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Ingredion by 21.5% during the 1st quarter. Neuberger Berman Group LLC now owns 9,163 shares of the company’s stock valued at $1,194,000 after acquiring an additional 1,619 shares during the last quarter. Finally, State Treasurer State of Michigan boosted its position in shares of Ingredion by 1.9% during the 1st quarter. State Treasurer State of Michigan now owns 26,300 shares of the company’s stock valued at $3,391,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 83.60% of the company’s stock.

NYSE:INGR traded up $0.08 during midday trading on Friday, hitting $104.04. 407,736 shares of the company traded hands, compared to its average volume of 522,360. Ingredion Inc has a 12-month low of $95.01 and a 12-month high of $146.28. The firm has a market capitalization of $7.58 billion, a PE ratio of 13.51, a PEG ratio of 1.27 and a beta of 0.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.48 and a current ratio of 2.46.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.01. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. Ingredion’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that Ingredion Inc will post 7.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, October 1st will be paid a $0.625 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, September 28th. This represents a $2.50 dividend on an annualized basis and a yield of 2.40%. Ingredion’s dividend payout ratio (DPR) is presently 32.47%.

Several analysts recently weighed in on INGR shares. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded Ingredion from a “strong sell” rating to a “sell” rating in a report on Thursday, September 27th. Credit Suisse Group lowered Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 price target on the stock. in a report on Wednesday, July 18th. Stephens restated a “hold” rating and set a $110.00 price target on shares of Ingredion in a report on Friday, July 13th. Finally, Citigroup lowered Ingredion from a “neutral” rating to a “sell” rating in a report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $131.60.

Ingredion Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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