Grantham Mayo Van Otterloo & Co. LLC Has $2.43 Million Stake in Ingredion Incorporated (NYSE:INGR)

Grantham Mayo Van Otterloo & Co. LLC decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 44.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,695 shares of the company’s stock after selling 14,175 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Ingredion were worth $2,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC increased its position in Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after purchasing an additional 74 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after purchasing an additional 79 shares during the last quarter. Mindset Wealth Management LLC grew its position in shares of Ingredion by 2.1% during the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock worth $538,000 after buying an additional 82 shares during the period. Transcend Capital Advisors LLC raised its position in shares of Ingredion by 2.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after acquiring an additional 90 shares during the period. Finally, Truist Financial Corp boosted its stake in Ingredion by 1.3% during the 4th 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 last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Price Performance

Shares of NYSE INGR opened at $125.20 on Tuesday. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.03 and a beta of 0.72. 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 business has a 50-day moving average of $131.25 and a 200-day moving average of $136.39.

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

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be paid a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.56%. Ingredion’s dividend payout ratio is 32.96%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group reissued a “neutral” rating and issued a $145.00 price target (down previously from $165.00) on shares of Ingredion in a report on Monday. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Stephens dropped their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets reduced their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Finally, Oppenheimer dropped their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.60.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were 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 directly owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently 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.