Abacus FCF Advisors LLC Acquires 8,060 Shares of Ingredion Incorporated (NYSE:INGR)

Abacus FCF Advisors LLC raised its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,566 shares of the company's stock after purchasing an additional 8,060 shares during the quarter. Abacus FCF Advisors LLC's holdings in Ingredion were worth $3,517,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in shares of Ingredion by 234.1% in the fourth quarter. Renaissance Technologies LLC now owns 140,000 shares of the company's stock valued at $19,258,000 after purchasing an additional 98,100 shares during the last quarter. Invesco Ltd. increased its stake in Ingredion by 5.7% in the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company's stock valued at $119,721,000 after buying an additional 46,819 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of Ingredion during the 4th quarter worth approximately $356,000. Cerity Partners LLC boosted its stake in shares of Ingredion by 12.0% in the 4th quarter. Cerity Partners LLC now owns 20,941 shares of the company's stock worth $2,880,000 after buying an additional 2,250 shares during the last quarter. Finally, Aristides Capital LLC grew its holdings in shares of Ingredion by 30.2% in the fourth quarter. Aristides Capital LLC now owns 2,158 shares of the company's stock valued at $297,000 after acquiring an additional 500 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Performance

NYSE INGR traded up $2.37 during trading on Friday, hitting $129.88. 490,496 shares of the company's stock traded hands, compared to its average volume of 459,829. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The stock has a market capitalization 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 12-month low of $109.51 and a 12-month high of $155.44. The business has a 50 day moving average of $130.28 and a 200-day moving average of $136.01.

Ingredion (NYSE:INGR - Get Free Report) last announced 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. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the prior year, the company posted $1.65 EPS. Ingredion's revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid 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 dividend yield of 2.46%. Ingredion's payout ratio is 32.96%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction that occurred on 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 directly owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on INGR shares. UBS Group reiterated a "neutral" rating and set a $145.00 price target (down from $165.00) on shares of Ingredion in a report on Monday, April 7th. Stephens lowered their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets reduced 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. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Oppenheimer reduced their target price on shares of Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $152.60.

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.