Russell Investments Group Ltd. Has $27.59 Million Position in Ingredion Incorporated (NYSE:INGR)

Russell Investments Group Ltd. decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 200,532 shares of the company’s stock after selling 7,514 shares during the period. Russell Investments Group Ltd.’s holdings in Ingredion were worth $27,585,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of 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 acquiring an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. Mindset Wealth Management LLC boosted its position in Ingredion by 2.1% in the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after buying an additional 82 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after buying an additional 90 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after buying an additional 90 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ingredion Stock Down 2.0 %

Shares of NYSE INGR opened at $122.75 on Wednesday. The company’s 50 day moving average price is $130.72 and its 200-day moving average price is $136.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44. The company has a market capitalization of $7.88 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its quarterly 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 net margin of 8.71% and a return on equity of 18.62%. 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 posted $1.65 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently declared 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. This represents a $3.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

About Ingredion

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.