Allspring Global Investments Holdings LLC Decreases Stake in Ingredion Incorporated (NYSE:INGR)

Allspring Global Investments Holdings LLC lowered its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 44.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 75,303 shares of the company's stock after selling 60,999 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.12% of Ingredion worth $10,279,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. TFB Advisors LLC bought a new position in shares of Ingredion in the 4th quarter worth about $477,000. Louisiana State Employees Retirement System boosted its holdings in shares of Ingredion by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company's stock worth $2,490,000 after buying an additional 100 shares during the last quarter. Quent Capital LLC increased its holdings in Ingredion by 22.4% during the fourth quarter. Quent Capital LLC now owns 776 shares of the company's stock worth $107,000 after buying an additional 142 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Ingredion in the 4th quarter worth approximately $161,000. Finally, Equitable Trust Co. raised its stake in shares of Ingredion by 4.2% in the fourth quarter. Equitable Trust Co. now owns 27,955 shares of the company's stock valued at $3,845,000 after buying an additional 1,115 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

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 shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,685 shares of company stock valued at $9,414,112 in the last three months. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens dropped their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. UBS Group increased their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, BMO Capital Markets dropped their target price on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.20.

Ingredion Stock Down 0.6 %

Shares of INGR traded down $0.71 during mid-day trading on Thursday, hitting $126.21. The company's stock had a trading volume of 569,643 shares, compared to its average volume of 548,862. 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 capitalization of $8.22 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.03 and a beta of 0.74. The company's 50-day moving average is $134.19 and its 200-day moving average is $136.38. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The firm's revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion's payout ratio is currently 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.