Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Ingredion Incorporated (NYSE:INGR)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ingredion Incorporated (NYSE:INGR – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,628 shares of the company’s stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Ingredion by 510.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 14,000 shares of the company’s stock worth $1,127,000 after acquiring an additional 11,705 shares during the period. Brandes Investment Partners LP lifted its holdings in shares of Ingredion by 6.1% during the 3rd quarter. Brandes Investment Partners LP now owns 303,070 shares of the company’s stock worth $24,404,000 after acquiring an additional 17,433 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Ingredion by 13.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 164,896 shares of the company’s stock worth $13,277,000 after acquiring an additional 19,681 shares during the period. ExodusPoint Capital Management LP lifted its holdings in shares of Ingredion by 536.5% during the 3rd quarter. ExodusPoint Capital Management LP now owns 45,748 shares of the company’s stock worth $3,684,000 after acquiring an additional 38,561 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Ingredion by 4.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,397,801 shares of the company’s stock worth $193,078,000 after acquiring an additional 92,830 shares during the period. Institutional investors and hedge funds own 85.70% of the company’s stock.

Ingredion Trading Up 1.5 %

Shares of NYSE INGR opened at $100.91 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 1.76. Ingredion Incorporated has a 52-week low of $78.81 and a 52-week high of $105.24. The firm has a 50 day moving average price of $100.08 and a two-hundred day moving average price of $93.35. The stock has a market cap of $6.66 billion, a P/E ratio of 13.75 and a beta of 0.77.

Ingredion (NYSE:INGR – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.20. Ingredion had a net margin of 6.19% and a return on equity of 15.70%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue was up 13.2% on a year-over-year basis. As a group, equities analysts forecast that Ingredion Incorporated will post 8.05 EPS for the current year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 24th. Stockholders of record on Monday, January 2nd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, December 29th. Ingredion’s dividend payout ratio (DPR) is presently 38.69%.

Wall Street Analyst Weigh In

Several brokerages recently commented on INGR. Stephens raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $100.00 to $120.00 in a research note on Tuesday, January 17th. Credit Suisse Group increased their price objective on shares of Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th. Barclays downgraded shares of 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, January 23rd. Finally, StockNews.com raised shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Thursday, November 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.25.

Ingredion Profile

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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