Intech Investment Management LLC Has $2.41 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Intech Investment Management LLC boosted its stake in Ingredion Incorporated (NYSE:INGR) by 65.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,480 shares of the company’s stock after purchasing an additional 6,937 shares during the quarter. Intech Investment Management LLC’s holdings in Ingredion were worth $2,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BOK Financial Private Wealth Inc. acquired a new position in Ingredion in the fourth quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ingredion during the fourth quarter worth about $27,000. Prospera Private Wealth LLC acquired a new position in Ingredion during the third quarter worth about $41,000. EverSource Wealth Advisors LLC raised its stake in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after acquiring an additional 79 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in Ingredion during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In related 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 value of $1,361,392.20. Following the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Ingredion Stock Performance

NYSE:INGR opened at $131.74 on Friday. The stock has a market cap of $8.46 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. 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’s 50-day moving average is $131.52 and its 200-day moving average is $136.51. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last announced 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. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.43%. The ex-dividend date is Tuesday, April 1st. Ingredion’s payout ratio is presently 32.96%.

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.