2,372 Shares in Ingredion Incorporated (NYSE:INGR) Purchased by Summit Global Investments

Summit Global Investments bought a new stake in shares of Ingredion Incorporated (NYSE:INGR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,372 shares of the company’s stock, valued at approximately $326,000.

Several other large investors have also recently made changes to their positions in the business. BOK Financial Private Wealth Inc. bought a new position in Ingredion during the 4th quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Ingredion in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 79 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Ingredion in the 4th quarter worth about $48,000. Finally, Millstone Evans Group LLC bought a new position in Ingredion in the 4th quarter worth about $55,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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 dated 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 completion of the sale, the chief executive officer now owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Ingredion Price Performance

Shares of INGR opened at $132.99 on Tuesday. The firm has a fifty day simple moving average of $131.53 and a two-hundred day simple moving average of $136.50. The firm has a market cap of $8.54 billion, a PE ratio of 13.70, a P/E/G 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. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.41%. Ingredion’s dividend payout ratio (DPR) is 32.96%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Oppenheimer decreased their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Stephens reduced their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets lowered their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.20.

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.