Inceptionr LLC Invests $1.03 Million in Ingredion Incorporated (NYSE:INGR)

Inceptionr LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, Holdings Channel reports. The fund bought 7,448 shares of the company’s stock, valued at approximately $1,025,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp raised its position in shares of Ingredion by 0.8% during the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after purchasing an additional 19,560 shares during the period. Pacer Advisors Inc. raised its position in Ingredion by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after buying an additional 268,389 shares during the period. Massachusetts Financial Services Co. MA raised its position in Ingredion by 2.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after buying an additional 36,421 shares during the period. Geode Capital Management LLC raised its position in Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock valued at $160,516,000 after buying an additional 19,064 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Ingredion by 11.9% during the fourth quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after buying an additional 89,335 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Performance

Shares of NYSE INGR opened at $131.05 on Friday. The business’s 50-day moving average price is $132.14 and its two-hundred day moving average price is $136.52. 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 one year low of $109.51 and a one year high of $155.44. The company has a market capitalization of $8.41 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74.

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

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.44%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on INGR shares. 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. Oppenheimer dropped 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. 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. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Stephens lowered their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

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.