Parvin Asset Management LLC Takes $1.48 Million Position in Ingredion Incorporated (NYSE:INGR)

Parvin Asset Management LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,780 shares of the company’s stock, valued at approximately $1,483,000. Ingredion comprises approximately 1.6% of Parvin Asset Management LLC’s holdings, making the stock its 10th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in Ingredion by 31.9% during the 3rd quarter. Barclays PLC now owns 47,291 shares of the company’s stock worth $6,499,000 after buying an additional 11,432 shares during the period. Fulcrum Equity Management lifted its position in shares of Ingredion by 18.2% in the 3rd quarter. Fulcrum Equity Management now owns 4,033 shares of the company’s stock worth $554,000 after purchasing an additional 620 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Ingredion in the 3rd quarter worth approximately $149,000. Tidal Investments LLC lifted its position in shares of Ingredion by 0.5% in the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after purchasing an additional 94 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after purchasing an additional 83,708 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target 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. Oppenheimer dropped their price target on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. UBS Group set a $155.00 price target on shares of Ingredion in a research report on Tuesday, April 22nd. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Stephens dropped their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.20.

Insider Activity

In other Ingredion 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 transaction of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.9 %

Ingredion stock opened at $132.24 on Wednesday. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 1.03 and a beta of 0.72. 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 firm has a 50 day simple moving average of $131.00 and a 200 day simple moving average of $135.59.

Ingredion (NYSE:INGR) last released its quarterly 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. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. On average, analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were paid 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 was Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is 32.96%.

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.