Ingredion Incorporated (NYSE:INGR) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC increased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 7.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,890 shares of the company’s stock after purchasing an additional 610 shares during the quarter. NewEdge Advisors LLC’s holdings in Ingredion were worth $1,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INGR. Barclays PLC increased its position in shares of Ingredion by 31.9% during the third quarter. Barclays PLC now owns 47,291 shares of the company’s stock worth $6,499,000 after purchasing an additional 11,432 shares in the last quarter. Fulcrum Equity Management increased its position in Ingredion by 18.2% during the third quarter. Fulcrum Equity Management now owns 4,033 shares of the company’s stock worth $554,000 after buying an additional 620 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Ingredion in the third quarter valued at approximately $149,000. Tidal Investments LLC boosted its holdings in shares of Ingredion by 0.5% in the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after acquiring an additional 94 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Ingredion by 75.7% during the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after acquiring an additional 83,708 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Down 0.2 %

INGR opened at $129.93 on Friday. The business has a 50 day simple moving average of $130.70 and a 200-day simple moving average of $135.63. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The stock has a market capitalization of $8.35 billion, a P/E ratio of 13.38, a P/E/G 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.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $1.65 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Tuesday, April 1st. Ingredion’s dividend payout ratio is currently 32.96%.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stephens decreased their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Oppenheimer decreased their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group set a $155.00 price target on Ingredion in a research report on Tuesday. BMO Capital Markets decreased their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.20.

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.