Sciencast Management LP Purchases Shares of 11,452 Ingredion Incorporated (NYSE:INGR)

Sciencast Management LP bought a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,452 shares of the company's stock, valued at approximately $1,575,000.

Several other hedge funds have also recently bought and sold shares of INGR. Summit Global Investments acquired a new stake in shares of Ingredion in the 4th quarter valued at about $326,000. Millstone Evans Group LLC bought a new position in shares of Ingredion during the fourth quarter worth about $55,000. Mindset Wealth Management LLC raised its position in Ingredion by 2.1% in the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after buying an additional 82 shares during the last quarter. Magnetar Financial LLC lifted its stake in Ingredion by 606.2% in the 4th quarter. Magnetar Financial LLC now owns 38,023 shares of the company's stock valued at $5,230,000 after acquiring an additional 32,639 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Ingredion by 15.5% in the 4th quarter. Teacher Retirement System of Texas now owns 75,279 shares of the company's stock valued at $10,355,000 after acquiring an additional 10,117 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on INGR. Stephens lowered their price objective on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets cut 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. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Oppenheimer dropped their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.20.

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Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 directly owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

Ingredion Stock Performance

Shares of INGR traded up $2.53 during midday trading on Wednesday, reaching $135.01. The stock had a trading volume of 462,725 shares, compared to its average volume of 433,200. The firm has a market cap of $8.67 billion, a PE ratio of 13.90, a P/E/G ratio of 1.03 and a beta of 0.75. The firm has a 50 day simple moving average of $131.57 and a 200-day simple moving average of $136.47. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. 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 (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.54 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. Ingredion's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.65 earnings per share. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.37%. Ingredion's dividend payout ratio is currently 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.