Foundry Partners LLC Acquires 247 Shares of Ingredion Incorporated (NYSE:INGR)

Foundry Partners LLC lifted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,279 shares of the company’s stock after buying an additional 247 shares during the quarter. Foundry Partners LLC’s holdings in Ingredion were worth $726,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its stake in Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after purchasing an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after buying an additional 79 shares in the last quarter. Mindset Wealth Management LLC raised its stake in Ingredion by 2.1% during the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock worth $538,000 after buying an additional 82 shares during the period. Transcend Capital Advisors LLC boosted its holdings 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 acquiring an additional 90 shares in the last quarter. Finally, Truist Financial Corp grew its stake in 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 acquiring an additional 90 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of INGR stock opened at $130.69 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The firm has a 50-day moving average of $131.47 and a 200-day moving average of $136.45. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. The company has a market cap of $8.39 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.03 and a beta of 0.71.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. Equities research analysts forecast 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. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio is presently 32.96%.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

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