Oakworth Capital Inc. Takes Position in Ingredion Incorporated (NYSE:INGR)

Oakworth Capital Inc. purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $109,000.

Several other hedge funds have also made changes to their positions in INGR. Quarry LP acquired a new stake in Ingredion during the 2nd quarter worth approximately $30,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Ingredion by 63.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after buying an additional 147 shares in the last quarter. Allworth Financial LP lifted its holdings in Ingredion by 414.1% during the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after buying an additional 323 shares in the last quarter. Blue Trust Inc. lifted its holdings in Ingredion by 40.2% during the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after buying an additional 103 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in Ingredion by 33.7% during the 3rd quarter. IFP Advisors Inc now owns 484 shares of the company’s stock worth $48,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR opened at $111.30 on Thursday. The company’s fifty day moving average price is $114.76 and its 200 day moving average price is $107.16. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $118.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. The firm has a market capitalization of $7.30 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.05 and a beta of 0.81.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. Ingredion’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, March 28th. Ingredion’s payout ratio is 32.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INGR shares. Barclays increased their target price on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a report on Wednesday, February 7th. The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and raised their price objective for the company from $122.00 to $135.00 in a report on Thursday, February 15th. Finally, StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.67.

Insider Activity

In other news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the sale, the senior vice president now owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Davida Marie Gable sold 1,968 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the sale, the vice president now owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total transaction of $272,624.52. Following the sale, the senior vice president now directly owns 28,966 shares in the company, valued at approximately $3,333,407.28. The disclosure for this sale can be found here. Insiders have sold a total of 58,921 shares of company stock valued at $6,903,045 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

About Ingredion

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.