Bruce G. Allen Investments LLC Sells 133 Shares of Ingredion Incorporated (NYSE:INGR)

Bruce G. Allen Investments LLC reduced its stake in Ingredion Incorporated (NYSE:INGR) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921 shares of the company’s stock after selling 133 shares during the period. Bruce G. Allen Investments LLC’s holdings in Ingredion were worth $127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Signaturefd LLC increased its stake in shares of Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after purchasing an additional 85 shares in the last quarter. Tidal Investments LLC grew its position in Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after purchasing an additional 94 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Ingredion by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after purchasing an additional 97 shares in the last quarter. Seelaus Asset Management LLC lifted its stake in shares of Ingredion by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after buying an additional 105 shares in the last quarter. Finally, Conscious Wealth Investments LLC increased its position in shares of Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after acquiring an additional 106 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of research analyst reports. UBS Group lifted their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays upped their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Oppenheimer increased their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Stephens raised shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.17.

Insider Activity at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. The trade was a 81.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,692 shares of company stock worth $9,634,868. 1.80% of the stock is owned by corporate insiders.

Ingredion Stock Performance

INGR traded down $2.60 during trading on Friday, hitting $130.91. The company’s stock had a trading volume of 454,324 shares, compared to its average volume of 376,279. The business’s 50 day simple moving average is $142.90 and its 200-day simple moving average is $133.34. The firm has a market cap of $8.53 billion, a PE ratio of 12.77, a P/E/G ratio of 1.24 and a beta of 0.75. Ingredion Incorporated has a one year low of $107.20 and a one year high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 earnings per share. As a group, sell-side analysts predict that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.44%. Ingredion’s payout ratio is 31.22%.

Ingredion Company Profile

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.