Raymond James Financial Inc. Purchases New Stake in Ingredion Incorporated (NYSE:INGR)

Raymond James Financial Inc. purchased a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 230,820 shares of the company's stock, valued at approximately $31,752,000. Raymond James Financial Inc. owned approximately 0.35% of Ingredion as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of INGR. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ingredion in the 4th quarter worth about $27,000. Prospera Private Wealth LLC bought a new stake in shares of Ingredion during the third quarter worth about $41,000. Crews Bank & Trust acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $48,000. Versant Capital Management Inc raised its holdings in Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company's stock valued at $61,000 after buying an additional 362 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Ingredion during the 3rd quarter worth approximately $86,000. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on INGR shares. BMO Capital Markets decreased their price target on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Stephens lowered their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Oppenheimer cut 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. Finally, StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. 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 MarketBeat, Ingredion has an average rating of "Moderate Buy" and an average target price of $158.20.

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Ingredion Trading Up 1.5 %

INGR stock traded up $2.00 during midday trading on Monday, hitting $133.29. The stock had a trading volume of 423,402 shares, compared to its average volume of 420,518. 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 market cap of $8.56 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The business has a fifty day moving average price of $131.60 and a two-hundred day moving average price of $136.59. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share (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 for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $1.65 EPS. The firm's revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed 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 2.40%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) is 32.96%.

Insider Activity

In other news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

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.