Great West Life Assurance Co. Can cut its holdings in Ingredion Incorporated (NYSE:INGR – Get Rating) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,750 shares of the company’s stock after selling 1,346 shares during the period. Great West Life Assurance Co. Can owned about 0.06% of Ingredion worth $3,361,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new stake in Ingredion in the second quarter valued at $26,000. Wipfli Financial Advisors LLC purchased a new position in shares of Ingredion during the third quarter worth about $33,000. Eagle Bay Advisors LLC purchased a new position in shares of Ingredion during the second quarter worth about $55,000. Worth Asset Management LLC purchased a new position in shares of Ingredion during the first quarter worth about $57,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Ingredion during the third quarter worth about $52,000. 85.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on INGR shares. Barclays lowered Ingredion from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $105.00 to $110.00 in a report on Monday. Credit Suisse Group raised their price objective on Ingredion from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, November 7th. UBS Group started coverage on Ingredion in a report on Friday, September 30th. They set a “neutral” rating and a $89.00 price target on the stock. Stephens raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $120.00 in a report on Tuesday, January 17th. Finally, StockNews.com raised Ingredion from a “hold” rating to a “buy” rating in a report on Thursday, November 17th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.75.
Ingredion Stock Performance
Ingredion (NYSE:INGR – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.73 earnings per share for the quarter. Ingredion had a return on equity of 14.62% and a net margin of 5.77%. The company had revenue of $2.02 billion for the quarter. On average, equities research analysts expect that Ingredion Incorporated will post 7.06 earnings per share for the current year.
Ingredion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 24th. Shareholders of record on Monday, January 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Thursday, December 29th. Ingredion’s dividend payout ratio is presently 42.90%.
Ingredion, Inc engages in the manufacture and sale of sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials. Its activities include turning corn, tapioca, potatoes and other vegetables and fruits into value added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, and other industries.
- Get a free copy of the StockNews.com research report on Ingredion (INGR)
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