Advisors Asset Management Inc. Boosts Stake in Ingredion Incorporated (NYSE:INGR)

Advisors Asset Management Inc. increased its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,137 shares of the company's stock after purchasing an additional 4,984 shares during the period. Advisors Asset Management Inc. owned 0.05% of Ingredion worth $4,696,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INGR. State Street Corp raised its stake in shares of Ingredion by 0.8% during the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after acquiring an additional 19,560 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Ingredion by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock worth $260,056,000 after purchasing an additional 268,389 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ingredion by 2.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock valued at $211,529,000 after purchasing an additional 36,421 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock worth $160,516,000 after purchasing an additional 19,064 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company's stock worth $115,930,000 after buying an additional 89,335 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

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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 stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

Ingredion Price Performance

Shares of INGR stock traded up $2.66 during mid-day trading on Monday, hitting $132.99. 709,916 shares of the stock were exchanged, compared to its average volume of 432,408. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.54 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The firm has a fifty day moving average of $131.51 and a 200 day moving average of $136.51.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.82 billion. During the same period last year, the company earned $1.65 earnings per share. Ingredion's quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate 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 will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.41%. The ex-dividend date is Tuesday, April 1st. Ingredion's payout ratio is 32.96%.

Analyst Upgrades and Downgrades

INGR has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. 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 report on Wednesday, February 5th. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Stephens reduced their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.20.

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.