Navellier & Associates Inc. Purchases 1,462 Shares of Ingredion Incorporated (NYSE:INGR)

Navellier & Associates Inc. increased its position in shares of Ingredion Incorporated (NYSE:INGR) by 5.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,998 shares of the company’s stock after acquiring an additional 1,462 shares during the period. Navellier & Associates Inc.’s holdings in Ingredion were worth $4,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Transcend Capital Advisors LLC grew its position in Ingredion by 2.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after acquiring an additional 90 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new stake in Ingredion during the 4th quarter worth $963,000. Allianz Asset Management GmbH grew its position in Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock worth $115,930,000 after acquiring an additional 89,335 shares during the last quarter. ING Groep NV bought a new stake in Ingredion during the 4th quarter worth $1,004,000. Finally, Bank of Jackson Hole Trust bought a new stake in Ingredion during the 4th quarter worth $306,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,685 shares of company stock valued at $9,414,112 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

INGR has been the topic of a number of research reports. Barclays boosted their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Oppenheimer reduced their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Stephens reduced their price target 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 reduced 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. Finally, UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Trading Up 1.4 %

NYSE INGR opened at $128.07 on Friday. The business has a 50 day simple moving average of $134.19 and a 200 day simple moving average of $136.38. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. The stock has a market capitalization of $8.35 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.04 and a beta of 0.74. 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 released 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 return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.50%. Ingredion’s dividend payout ratio is currently 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.