Ingredion Incorporated (NYSE:INGR) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,068 shares of the company’s stock after selling 192 shares during the quarter. Parallel Advisors LLC’s holdings in Ingredion were worth $972,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms recently commented on INGR. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Stephens cut their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Oppenheimer cut their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Finally, BMO Capital Markets cut their price objective 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Stock Up 0.3 %

NYSE:INGR opened at $132.41 on Thursday. The firm has a market capitalization of $8.50 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The stock has a 50 day moving average of $131.55 and a 200-day moving average of $136.54. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week 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.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. Analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.