Ingredion Incorporated (NYSE:INGR) Shares Acquired by Dupont Capital Management Corp

Posted by Defense World Staff on Apr 9th, 2023

Dupont Capital Management Corp lifted its holdings in Ingredion Incorporated (NYSE:INGR – Get Rating) by 100.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,054 shares of the company’s stock after acquiring an additional 3,040 shares during the quarter. Dupont Capital Management Corp’s holdings in Ingredion were worth $593,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Ingredion by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,030,024 shares of the company’s stock worth $566,057,000 after purchasing an additional 46,092 shares during the period. BlackRock Inc. boosted its stake in shares of Ingredion by 1.9% in the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock worth $504,608,000 after buying an additional 107,110 shares during the last quarter. LSV Asset Management grew its holdings in Ingredion by 0.6% during the third quarter. LSV Asset Management now owns 2,598,482 shares of the company’s stock worth $209,230,000 after acquiring an additional 15,174 shares during the period. Dimensional Fund Advisors LP raised its position in Ingredion by 4.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,397,801 shares of the company’s stock valued at $193,078,000 after acquiring an additional 92,830 shares in the last quarter. Finally, State Street Corp lifted its holdings in Ingredion by 7.1% in the first quarter. State Street Corp now owns 2,364,523 shares of the company’s stock valued at $207,518,000 after acquiring an additional 155,995 shares during the period. Hedge funds and other institutional investors own 85.70% of the company’s stock.

Analyst Upgrades and Downgrades

INGR has been the subject of several recent research reports. StockNews.com started coverage on shares of Ingredion in a report on Thursday, March 16th. They set a “buy” rating for the company. Barclays downgraded shares of Ingredion from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $105.00 to $110.00 in a research report on Monday, January 23rd. Stephens reissued an “overweight” rating and set a $120.00 target price on shares of Ingredion in a research note on Friday, March 17th. Finally, Credit Suisse Group lifted their price target on Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $107.25.

Ingredion Price Performance

Shares of NYSE INGR opened at $101.67 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 1.76. The firm has a fifty day moving average of $99.71 and a 200 day moving average of $95.46. The firm has a market cap of $6.71 billion, a PE ratio of 13.85 and a beta of 0.76. Ingredion Incorporated has a one year low of $78.81 and a one year high of $105.24.

Ingredion (NYSE:INGR – Get Rating) last announced its 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 business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, research analysts predict that Ingredion Incorporated will post 8.32 EPS for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Monday, April 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 31st. This represents a $2.84 annualized dividend and a dividend yield of 2.79%. Ingredion’s dividend payout ratio (DPR) is presently 38.69%.

Insider Activity

In related news, EVP Jorgen Kokke sold 7,119 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $100.21, for a total value of $713,394.99. Following the completion of the transaction, the executive vice president now directly owns 36,537 shares of the company’s stock, valued at approximately $3,661,372.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 7,121 shares of company stock worth $713,593 over the last quarter. 1.68% of the stock is currently owned by corporate insiders.

About Ingredion

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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.