Ingredion Incorporated (NYSE:INGR) Stake Reduced by Liberty One Investment Management LLC

Liberty One Investment Management LLC trimmed its stake in Ingredion Incorporated (NYSE:INGR) by 19.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,925 shares of the company’s stock after selling 1,154 shares during the quarter. Liberty One Investment Management LLC’s holdings in Ingredion were worth $678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion in the 2nd quarter worth approximately $33,000. Prospera Private Wealth LLC bought a new position in shares of Ingredion in the third quarter worth $41,000. Abich Financial Wealth Management LLC bought a new stake in shares of Ingredion during the second quarter valued at about $56,000. Versant Capital Management Inc lifted its holdings in Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after purchasing an additional 362 shares during the period. Finally, Concord Wealth Partners grew its position in Ingredion by 82.6% in the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Up 0.6 %

Shares of NYSE INGR opened at $135.16 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12 month low of $107.20 and a 12 month high of $155.44. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.07 and a beta of 0.75. The business has a fifty day simple moving average of $141.36 and a 200-day simple moving average of $134.25.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 earnings per share. Sell-side analysts predict that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, January 2nd. Ingredion’s payout ratio is 31.22%.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. The trade was a 13.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,692 shares of company stock valued at $9,634,868 in the last three months. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. BMO Capital Markets boosted their price objective on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Barclays raised their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $155.17.

Ingredion 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.