Ingredion Incorporated (NYSE:INGR) Stock Holdings Decreased by Magnetar Financial LLC

Magnetar Financial LLC lowered its stake in Ingredion Incorporated (NYSE:INGR) by 52.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 10,897 shares of the company’s stock after selling 11,828 shares during the period. Magnetar Financial LLC’s holdings in Ingredion were worth $1,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Loews Corp grew its position in shares of Ingredion by 11.1% during the 4th quarter. Loews Corp now owns 200,000 shares of the company’s stock valued at $21,706,000 after buying an additional 20,000 shares during the last quarter. Paradiem LLC boosted its stake in Ingredion by 64.2% during the 4th quarter. Paradiem LLC now owns 73,190 shares of the company’s stock valued at $7,943,000 after purchasing an additional 28,617 shares during the period. Insight Wealth Strategies LLC boosted its stake in Ingredion by 230.9% during the 1st quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock valued at $1,604,000 after purchasing an additional 9,577 shares during the period. Sei Investments Co. boosted its stake in Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after purchasing an additional 21,619 shares during the period. Finally, BNP Paribas acquired a new position in Ingredion during the 1st quarter valued at about $1,154,000. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total transaction of $282,171.59. Following the completion of the sale, the senior vice president now directly owns 28,848 shares of the company’s stock, valued at approximately $3,436,085.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total transaction of $282,171.59. Following the completion of the sale, the senior vice president now directly owns 28,848 shares of the company’s stock, valued at approximately $3,436,085.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James D. Gray sold 8,490 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the sale, the chief financial officer now directly owns 42,833 shares of the company’s stock, valued at $5,214,489.42. The disclosure for this sale can be found here. Insiders have sold a total of 38,359 shares of company stock worth $4,515,644 in the last 90 days. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Ingredion Trading Up 1.2 %

Shares of INGR stock traded up $1.49 during trading hours on Friday, reaching $121.21. 278,038 shares of the stock traded hands, compared to its average volume of 374,796. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $122.18. The business has a fifty day moving average price of $115.97 and a 200 day moving average price of $114.63. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $7.96 billion, a PE ratio of 12.15, a PEG ratio of 1.14 and a beta of 0.72.

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

Ingredion Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, July 1st. This represents a $3.12 annualized dividend and a dividend yield of 2.57%. Ingredion’s dividend payout ratio (DPR) is 31.26%.

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.