Avantax Planning Partners Inc. Sells 153 Shares of Ingredion Incorporated (NYSE:INGR)

Avantax Planning Partners Inc. lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,651 shares of the company’s stock after selling 153 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Ingredion were worth $227,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Ingredion by 1.8% during the 4th 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 in the last quarter. Transcend Capital Advisors LLC raised its stake in shares of 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 in the last quarter. Truist Financial Corp raised its stake in shares of Ingredion by 1.3% during the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after acquiring an additional 90 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after acquiring an additional 94 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Ingredion by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock worth $1,427,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Down 2.0 %

INGR stock opened at $130.39 on Thursday. The firm’s fifty day simple moving average is $131.83 and its 200-day simple moving average is $136.59. The company has a market capitalization of $8.37 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. 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 Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44.

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, topping 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 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 firm posted $1.65 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.45%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Oppenheimer cut their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Stephens cut their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets cut their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. UBS Group upped their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company’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 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 represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Ingredion Company 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.