1,484 Shares in Ingredion Incorporated (NYSE:INGR) Purchased by Gallacher Capital Management LLC

Gallacher Capital Management LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,484 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Ingredion by 1.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after purchasing an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares during the period. Transcend Capital Advisors LLC increased its position in Ingredion by 2.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after buying an additional 90 shares during the last quarter. Truist Financial Corp raised its stake in shares of Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 90 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after buying an additional 94 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR opened at $131.37 on Monday. The company has a 50 day moving average of $131.60 and a 200 day moving average of $136.59. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44. 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 cap of $8.43 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.03 and a beta of 0.75.

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

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, April 1st. Ingredion’s payout ratio is currently 32.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stephens decreased 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. Oppenheimer lowered their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets cut their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

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.