Dynamic Technology Lab Private Ltd Takes $1.50 Million Position in Ingredion Incorporated (NYSE:INGR)

Dynamic Technology Lab Private Ltd bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,920 shares of the company’s stock, valued at approximately $1,502,000.

Other hedge funds also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ingredion during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ingredion during the 4th quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC raised its position 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 in the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Ingredion in the 4th quarter valued at about $48,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Stephens reduced 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 decreased their price objective on shares of 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, Oppenheimer dropped their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion 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 approximately $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 SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Ingredion Price Performance

Shares of NYSE:INGR opened at $130.69 on Friday. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44. The firm has a market capitalization of $8.39 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.03 and a beta of 0.71. 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 company’s fifty day moving average price is $131.47 and its 200 day moving average price is $136.45.

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

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.45%. Ingredion’s payout ratio is 32.96%.

Ingredion 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.