First Eagle Investment Management LLC Acquires 7,950 Shares of Ingredion Incorporated (NYSE:INGR)

First Eagle Investment Management LLC grew its holdings in Ingredion Incorporated (NYSE:INGR) by 8.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 104,033 shares of the company’s stock after purchasing an additional 7,950 shares during the period. First Eagle Investment Management LLC owned approximately 0.16% of Ingredion worth $12,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in Ingredion during the 4th quarter worth $25,000. Blue Trust Inc. boosted its position in shares of Ingredion by 40.2% during the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after purchasing an additional 103 shares in the last quarter. National Bank of Canada FI boosted its holdings in Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after acquiring an additional 159 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Ingredion by 54.0% in the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock worth $72,000 after acquiring an additional 234 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in Ingredion by 29,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 879 shares of the company’s stock worth $95,000 after acquiring an additional 876 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 27,500 shares of Ingredion stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the completion of the sale, the chief executive officer now owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO James P. Zallie sold 27,500 shares of Ingredion stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the transaction, the chief executive officer now owns 52,197 shares in the company, valued at $6,073,642.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James D. Gray sold 8,490 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $121.74, for a total value of $1,033,572.60. Following the transaction, the chief financial officer now owns 42,833 shares in the company, valued at approximately $5,214,489.42. The disclosure for this sale can be found here. Insiders sold 38,359 shares of company stock valued at $4,515,644 over the last three months. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR traded down $1.60 during trading hours on Friday, reaching $118.17. The stock had a trading volume of 101,724 shares, compared to its average volume of 394,389. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44. The stock has a 50 day simple moving average of $115.96 and a 200 day simple moving average of $114.09. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $122.18. The stock has a market cap of $7.76 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.12 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, hitting analysts’ consensus estimates of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company earned $2.80 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, research analysts forecast that Ingredion Incorporated will post 9.7 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Monday, July 1st. Ingredion’s payout ratio is currently 31.26%.

Analyst Ratings Changes

Several research analysts have issued reports on INGR shares. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 11th. BMO Capital Markets raised their target price on Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

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.