Polymer Capital Management US LLC Takes $356,000 Position in Ingredion Incorporated (NYSE:INGR)

Polymer Capital Management US LLC acquired a new position in Ingredion Incorporated (NYSE:INGR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,590 shares of the company's stock, valued at approximately $356,000.

A number of other hedge funds have also recently made changes to their positions in INGR. BOK Financial Private Wealth Inc. acquired a new position in Ingredion during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Ingredion in the 4th quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in 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 boosted its holdings in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after acquiring an additional 79 shares during the period. Finally, Crews Bank & Trust acquired a new position in Ingredion in the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group reissued a "neutral" rating and issued a $145.00 price objective (down previously from $165.00) on shares of Ingredion in a research note on Monday, April 7th. Stephens decreased 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. BMO Capital Markets dropped 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 note on Wednesday, February 5th. Oppenheimer reduced their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a research note 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.60.

Ingredion Stock Up 1.9 %

Shares of INGR traded up $2.37 during midday trading on Friday, reaching $129.88. The stock had a trading volume of 490,496 shares, compared to its average volume of 459,829. 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 company's fifty day simple moving average is $130.28 and its two-hundred day simple moving average is $136.01. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.03 and a beta of 0.72. 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 posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share 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 analysts' expectations of $1.82 billion. During the same period last year, the firm earned $1.65 earnings per share. Ingredion's quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.46%. Ingredion's payout ratio is currently 32.96%.

Insider Transactions at Ingredion

In other Ingredion 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 transaction of $1,361,392.20. Following the transaction, the chief executive officer now 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 SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

About Ingredion

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.