Qube Research & Technologies Ltd Has $2.62 Million Position in Ingredion Incorporated (NYSE:INGR)

Qube Research & Technologies Ltd reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 38.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 28,945 shares of the company’s stock after selling 17,793 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Ingredion were worth $2,620,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Clean Yield Group acquired a new stake in Ingredion in the second quarter valued at approximately $29,000. Advisors Asset Management Inc. acquired a new stake in Ingredion in the second quarter valued at approximately $31,000. AGF Investments LLC bought a new position in shares of Ingredion in the first quarter valued at approximately $37,000. Eagle Bay Advisors LLC bought a new position in shares of Ingredion in the second quarter valued at approximately $48,000. Finally, Advisory Services Network LLC bought a new position in shares of Ingredion in the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 84.87% of the company’s stock.

A number of equities analysts have recently commented on INGR shares. TheStreet raised shares of Ingredion from a “c+” rating to a “b” rating in a research report on Tuesday, August 3rd. Zacks Investment Research lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Tuesday, October 5th.

Shares of INGR stock opened at $94.55 on Thursday. Ingredion Incorporated has a 1 year low of $68.71 and a 1 year high of $98.05. The firm’s fifty day simple moving average is $88.73 and its 200 day simple moving average is $90.93. The firm has a market capitalization of $6.34 billion, a P/E ratio of 46.81 and a beta of 0.82. The company has a current ratio of 2.55, a quick ratio of 1.60 and a debt-to-equity ratio of 0.75.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 3rd. The company reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.46. Ingredion had a net margin of 2.15% and a return on equity of 17.89%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Ingredion’s revenue was up 30.6% compared to the same quarter last year. Equities research analysts anticipate that Ingredion Incorporated will post 6.6 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 25th. Investors of record on Monday, October 4th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, October 1st. This represents a $2.60 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Ingredion’s previous quarterly dividend of $0.64. Ingredion’s payout ratio is 41.73%.

Ingredion Company Profile

Ingredion, Inc manufactures and sells sweetener, 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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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