Aspire Private Capital LLC Sells 367 Shares of Ingredion Incorporated (NYSE:INGR)

Aspire Private Capital LLC reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,401 shares of the company’s stock after selling 367 shares during the quarter. Aspire Private Capital LLC’s holdings in Ingredion were worth $468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of Ingredion by 154.0% during the second quarter. Renaissance Technologies LLC now owns 41,405 shares of the company’s stock worth $4,749,000 after buying an additional 25,105 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Ingredion during the 2nd quarter valued at $241,000. Mercer Global Advisors Inc. ADV grew its position in Ingredion by 9.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,484 shares of the company’s stock worth $1,776,000 after acquiring an additional 1,334 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Ingredion by 191.0% in the 2nd quarter. Hsbc Holdings PLC now owns 19,970 shares of the company’s stock worth $2,292,000 after purchasing an additional 13,108 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Ingredion in the second quarter valued at about $2,051,000. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

INGR has been the subject of several recent research reports. BMO Capital Markets upped their price objective on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Barclays raised their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Oppenheimer boosted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Stephens upgraded Ingredion to a “hold” rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Stock Performance

INGR stock opened at $136.49 on Wednesday. The firm has a market cap of $8.89 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.75. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $141.07 and a 200-day moving average price of $134.56. Ingredion Incorporated has a 1-year low of $107.20 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. As a group, equities research analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, January 2nd. Ingredion’s payout ratio is 31.22%.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was 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 approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,692 shares of company stock valued at $9,634,868. Corporate insiders own 1.80% of the company’s stock.

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.