Advisory Services Network LLC Purchases 2,181 Shares of Ingredion Incorporated (NYSE:INGR)

Advisory Services Network LLC boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 102.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,316 shares of the company's stock after purchasing an additional 2,181 shares during the period. Advisory Services Network LLC's holdings in Ingredion were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of INGR. BOK Financial Private Wealth Inc. purchased a new position in shares of Ingredion during the fourth quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion during the 4th quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after purchasing an additional 79 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Ingredion in the 4th quarter worth about $48,000. Institutional investors own 85.27% of the company's stock.

Insider Activity

In other news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction on 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 directly owns 34,127 shares of the company's stock, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INGR shares. StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens decreased 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. UBS Group restated a "neutral" rating and set a $145.00 price target (down from $165.00) on shares of Ingredion in a research report on Monday, April 7th. BMO Capital Markets decreased their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Finally, Oppenheimer lowered their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $152.60.

Ingredion Stock Down 0.6 %

Shares of INGR traded down $0.82 during mid-day trading on Monday, reaching $128.92. The company had a trading volume of 8,903 shares, compared to its average volume of 458,222. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. 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 company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72. The firm has a 50-day moving average price of $130.50 and a 200 day moving average price of $135.78.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping 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 business 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 company posted $1.65 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.48%. Ingredion's dividend payout ratio is presently 32.96%.

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.