Illinois Municipal Retirement Fund Sells 2,514 Shares of Ingredion Incorporated (NYSE:INGR)

Illinois Municipal Retirement Fund lessened its position in shares of Ingredion Incorporated (NYSE:INGR) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,520 shares of the company’s stock after selling 2,514 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ingredion were worth $3,235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INGR. State Street Corp raised its position in Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after buying an additional 19,560 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after purchasing an additional 268,389 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Ingredion by 2.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after purchasing an additional 36,421 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock worth $160,516,000 after purchasing an additional 19,064 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after buying an additional 89,335 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction on 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 directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,685 shares of company stock worth $9,414,112 over the last quarter. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Down 1.4 %

INGR stock opened at $130.59 on Thursday. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44. The business’s 50 day simple moving average is $133.42 and its 200 day simple moving average is $136.61. 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 firm has a market capitalization of $8.38 billion, a PE ratio of 13.45, a PEG ratio of 1.03 and a beta of 0.74.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. As a group, research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.45%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Analyst Ratings Changes

INGR has been the subject of several analyst reports. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Stephens cut their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets lowered their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Barclays increased 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.20.

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.