Federated Hermes Inc. Has $3.42 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Federated Hermes Inc. trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,891 shares of the company’s stock after selling 170 shares during the period. Federated Hermes Inc.’s holdings in Ingredion were worth $3,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Portfolio Solutions LLC lifted its stake in Ingredion by 195.2% during the third quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock valued at $1,595,000 after buying an additional 7,676 shares in the last quarter. Franklin Resources Inc. boosted its stake in Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after purchasing an additional 83,708 shares during the period. Principal Financial Group Inc. grew its position in Ingredion by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock worth $99,683,000 after purchasing an additional 10,812 shares in the last quarter. Magnetar Financial LLC lifted its holdings in shares of Ingredion by 606.2% in the fourth quarter. Magnetar Financial LLC now owns 38,023 shares of the company’s stock valued at $5,230,000 after purchasing an additional 32,639 shares in the last quarter. Finally, Fractal Investments LLC purchased a new stake in shares of Ingredion in the fourth quarter valued at $344,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on INGR. BMO Capital Markets dropped their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Oppenheimer reduced their price target 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. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Stephens decreased their target price 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. Finally, UBS Group reaffirmed a “neutral” rating and issued a $145.00 price target (down from $165.00) on shares of Ingredion in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average target price of $152.60.

Ingredion Stock Performance

INGR stock opened at $129.88 on Friday. The firm has a 50 day moving average of $130.28 and a two-hundred day moving average of $136.02. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.03 and a beta of 0.72. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

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

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors 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 annualized dividend and a yield of 2.46%. Ingredion’s dividend payout ratio (DPR) is currently 32.96%.

Insiders Place Their Bets

In other 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 value of $1,361,392.20. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.