Cubist Systematic Strategies LLC Raises Holdings in Ingredion Inc (INGR)
Cubist Systematic Strategies LLC raised its position in Ingredion Inc (NYSE:INGR) by 41.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,425 shares of the company’s stock after purchasing an additional 2,461 shares during the period. Cubist Systematic Strategies LLC’s holdings in Ingredion were worth $933,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in Ingredion during the second quarter worth about $153,000. IBM Retirement Fund purchased a new position in shares of Ingredion in the 1st quarter worth about $203,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Ingredion by 42.2% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after purchasing an additional 500 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of Ingredion in the 2nd quarter worth about $219,000. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Ingredion in the first quarter valued at about $280,000. 83.60% of the stock is currently owned by institutional investors.
Shares of INGR traded up $0.74 during midday trading on Friday, reaching $100.74. The stock had a trading volume of 397,962 shares, compared to its average volume of 519,849. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.48 and a current ratio of 2.46. The company has a market capitalization of $7.58 billion, a PE ratio of 13.08, a P/E/G ratio of 1.27 and a beta of 0.61. Ingredion Inc has a 52 week low of $95.01 and a 52 week high of $146.28.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, October 1st will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 2.48%. This is a positive change from Ingredion’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, September 28th. Ingredion’s payout ratio is currently 32.47%.
A number of research firms have recently issued reports on INGR. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Credit Suisse Group lowered Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 target price for the company. in a research report on Wednesday, July 18th. Stephens reiterated a “hold” rating and issued a $110.00 target price on shares of Ingredion in a research report on Friday, July 13th. Finally, Citigroup downgraded Ingredion from a “neutral” rating to a “sell” rating in a research note on Friday, July 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $131.60.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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