Mirae Asset Global Investments Co. Ltd. Acquires 142 Shares of Ingredion Incorporated (NYSE:INGR)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 0.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 17,356 shares of the company’s stock after buying an additional 142 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ingredion were worth $2,343,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Transcend Capital Advisors LLC lifted its position in Ingredion by 156.7% during the first quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company’s stock valued at $1,499,000 after purchasing an additional 6,768 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Ingredion by 1.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 88,433 shares of the company’s stock valued at $11,957,000 after acquiring an additional 1,555 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion in the first quarter valued at $26,000. Strategic Investment Advisors MI purchased a new stake in shares of Ingredion in the first quarter valued at $304,000. Finally, Moran Wealth Management LLC raised its stake in shares of Ingredion by 3,117.5% in the first quarter. Moran Wealth Management LLC now owns 48,584 shares of the company’s stock valued at $6,569,000 after acquiring an additional 47,074 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 0.6%

INGR stock opened at $137.35 on Friday. The company has a market capitalization of $8.83 billion, a PE ratio of 14.49, a P/E/G ratio of 1.11 and a beta of 0.72. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The firm’s 50-day moving average is $136.93 and its 200 day moving average is $133.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.85 and a quick ratio of 1.86.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. On average, research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion’s dividend payout ratio is presently 33.76%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INGR. UBS Group set a $155.00 target price on shares of Ingredion in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. Finally, Oppenheimer reduced their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.20.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the transaction, the senior vice president owned 31,996 shares of the company’s stock, valued at $4,345,696.72. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.