Norges Bank Makes New Investment in Ingredion Incorporated (NYSE:INGR)

Norges Bank acquired a new stake in shares of Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 697,966 shares of the company’s stock, valued at approximately $96,012,000. Norges Bank owned approximately 1.07% of Ingredion at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new stake in Ingredion during the fourth quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ingredion during the 4th quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Ingredion during the fourth quarter worth $48,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The shares were 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Ingredion Trading Up 0.6 %

Shares of NYSE:INGR opened at $136.01 on Wednesday. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.73 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The firm has a fifty day moving average of $131.58 and a two-hundred day moving average of $136.49.

Ingredion (NYSE:INGR) last issued its earnings results 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 firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Analysts Set New Price Targets

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