Navellier & Associates Inc. Has $4.13 Million Stake in Ingredion Incorporated (NYSE:INGR)

Navellier & Associates Inc. raised its stake in shares of Ingredion Incorporated (NYSE:INGR) by 5.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 29,998 shares of the company’s stock after purchasing an additional 1,462 shares during the period. Navellier & Associates Inc.’s holdings in Ingredion were worth $4,127,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Transcend Capital Advisors LLC boosted its stake in Ingredion by 2.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after purchasing an additional 90 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new position in Ingredion during the 4th quarter valued at about $963,000. Allianz Asset Management GmbH boosted its stake in shares of Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock worth $115,930,000 after buying an additional 89,335 shares during the last quarter. ING Groep NV purchased a new position in shares of Ingredion in the 4th quarter worth approximately $1,004,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Ingredion in the 4th quarter worth approximately $306,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INGR shares. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Oppenheimer cut their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group boosted their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the sale, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly 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. Insiders have sold 65,685 shares of company stock valued at $9,414,112 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Ingredion Trading Up 1.4 %

NYSE:INGR opened at $128.07 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.35 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. The firm’s 50 day moving average is $134.19 and its 200 day moving average is $136.38. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. Sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. Ingredion’s payout ratio is 32.96%.

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.