American Century Companies Inc. Cuts Holdings in Ingredion Incorporated (NYSE:INGR)

American Century Companies Inc. cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,278 shares of the company's stock after selling 96,382 shares during the period. American Century Companies Inc. owned about 0.25% of Ingredion worth $22,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INGR. Cerity Partners LLC grew its holdings in Ingredion by 3.9% during the 3rd quarter. Cerity Partners LLC now owns 18,691 shares of the company's stock worth $2,569,000 after acquiring an additional 694 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Ingredion by 9.4% during the third quarter. D.A. Davidson & CO. now owns 4,018 shares of the company's stock worth $552,000 after purchasing an additional 345 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Ingredion by 33.2% in the third quarter. BNP Paribas Financial Markets now owns 49,237 shares of the company's stock valued at $6,767,000 after buying an additional 12,270 shares during the last quarter. Townsquare Capital LLC increased its holdings in Ingredion by 8.8% in the third quarter. Townsquare Capital LLC now owns 5,070 shares of the company's stock valued at $697,000 after buying an additional 412 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in Ingredion by 92.4% in the third quarter. Verition Fund Management LLC now owns 12,194 shares of the company's stock valued at $1,676,000 after buying an additional 5,855 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Performance

NYSE:INGR traded up $1.09 during mid-day trading on Thursday, reaching $136.41. 446,944 shares of the stock were exchanged, compared to its average volume of 451,316. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The company has a 50 day simple moving average of $131.57 and a 200-day simple moving average of $136.48. The stock has a market capitalization of $8.76 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.03 and a beta of 0.71.

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

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Tuesday, April 1st. Ingredion's dividend payout ratio is currently 32.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on INGR shares. Stephens lowered their price objective 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. 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. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Oppenheimer lowered 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.