State of Alaska Department of Revenue boosted its stake in shares of Ingredion Incorporated (NYSE:INGR – Get Rating) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,515 shares of the company's stock after purchasing an additional 150 shares during the quarter. State of Alaska Department of Revenue's holdings in Ingredion were worth $838,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Ingredion by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 6,897,688 shares of the company's stock valued at $601,134,000 after purchasing an additional 47,725 shares during the last quarter. BlackRock Inc. raised its stake in shares of Ingredion by 1.9% in the 1st quarter. BlackRock Inc. now owns 5,790,111 shares of the company's stock valued at $504,608,000 after buying an additional 107,110 shares in the last quarter. LSV Asset Management raised its stake in shares of Ingredion by 1.0% in the 1st quarter. LSV Asset Management now owns 2,693,332 shares of the company's stock valued at $234,724,000 after buying an additional 25,564 shares in the last quarter. State Street Corp raised its stake in shares of Ingredion by 7.1% in the 1st quarter. State Street Corp now owns 2,364,523 shares of the company's stock valued at $207,518,000 after buying an additional 155,995 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ingredion by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,230,812 shares of the company's stock valued at $194,419,000 after buying an additional 63,771 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors and hedge funds.
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Ingredion Trading Down 1.0 %
Shares of INGR stock opened at $82.09 on Friday. Ingredion Incorporated has a 52-week low of $78.81 and a 52-week high of $101.89. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 12.11 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 1.72. The firm has a fifty day moving average of $88.14 and a 200-day moving average of $88.44.
Ingredion (NYSE:INGR – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.18. Ingredion had a net
margin of 6.13% and a return on equity of 14.53%. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The business's revenue was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Ingredion Incorporated will post 7.03 earnings per share for the current fiscal year.
Ingredion Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Thursday, October 6th will be issued a $0.71 dividend. This is a positive change from Ingredion's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, October 5th. This represents a $2.84 annualized dividend and a dividend yield of 3.46%. Ingredion's dividend payout ratio is presently 38.35%.
Ingredion Profile
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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.
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