American International Group Inc. Sells 1,760 Shares of Ingredion Incorporated (NYSE:INGR)

American International Group Inc. decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 2.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 86,306 shares of the company’s stock after selling 1,760 shares during the quarter. American International Group Inc.’s holdings in Ingredion were worth $10,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Loews Corp increased its position in shares of Ingredion by 11.1% in the fourth quarter. Loews Corp now owns 200,000 shares of the company’s stock worth $21,706,000 after purchasing an additional 20,000 shares during the period. Paradiem LLC increased its position in shares of Ingredion by 64.2% in the fourth quarter. Paradiem LLC now owns 73,190 shares of the company’s stock worth $7,943,000 after purchasing an additional 28,617 shares during the period. Insight Wealth Strategies LLC increased its position in shares of Ingredion by 230.9% in the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after purchasing an additional 9,577 shares during the period. Sei Investments Co. increased its position in shares of Ingredion by 23.4% in the first quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after purchasing an additional 21,619 shares during the period. Finally, BNP Paribas bought a new position in shares of Ingredion in the first quarter worth $1,154,000. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

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

Ingredion Price Performance

NYSE:INGR traded up $1.35 during trading hours on Thursday, hitting $119.99. The company’s stock had a trading volume of 81,921 shares, compared to its average volume of 391,212. The stock has a fifty day simple moving average of $115.92 and a 200-day simple moving average of $114.44. The company has a market capitalization of $7.88 billion, a P/E ratio of 11.88, a PEG ratio of 1.10 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $122.18.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, meeting 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 for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the firm posted $2.80 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, analysts anticipate that Ingredion Incorporated will post 9.7 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Monday, July 1st. Ingredion’s payout ratio is 31.26%.

Insider Activity

In other news, CFO James D. Gray sold 8,490 shares of Ingredion stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the sale, the chief financial officer now directly owns 42,833 shares of the company’s stock, valued at $5,214,489.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the transaction, the chief financial officer now directly owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 27,500 shares of the firm’s 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 of the company’s stock, valued at $6,073,642.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,359 shares of company stock valued at $4,515,644. 1.80% of the stock is currently owned by corporate 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.