ING Groep NV Buys Shares of 7,300 Ingredion Incorporated (NYSE:INGR)

ING Groep NV purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,300 shares of the company’s stock, valued at approximately $1,004,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new position in Ingredion in the 4th quarter worth approximately $306,000. Venturi Wealth Management LLC lifted its position in shares of Ingredion by 110.5% during the fourth quarter. Venturi Wealth Management LLC now owns 644 shares of the company’s stock worth $89,000 after acquiring an additional 338 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after acquiring an additional 90 shares during the period. CIBC Asset Management Inc grew its position in shares of Ingredion by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 2,074 shares of the company’s stock valued at $285,000 after purchasing an additional 106 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Ingredion by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 753,680 shares of the company’s stock valued at $103,675,000 after purchasing an additional 28,306 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

INGR stock opened at $128.07 on Monday. The firm has a 50 day simple moving average of $133.87 and a two-hundred day simple moving average of $136.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The stock has a market cap of $8.35 billion, a PE ratio of 13.19, a P/E/G ratio of 1.03 and a beta of 0.74. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. Ingredion’s payout ratio is 32.96%.

Wall Street Analysts Forecast Growth

INGR has been the subject of several analyst reports. Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Oppenheimer cut their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets decreased their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. UBS Group upped their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Stephens lowered their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.20.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated Friday, November 29th. The shares were 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. This represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,685 shares of company stock valued at $9,414,112 over the last quarter. 1.80% of the stock is owned by corporate insiders.

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.