Assetmark Inc. Has $70.07 Million Stake in Ingredion Incorporated (NYSE:INGR)

Assetmark Inc. boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 38,341.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 509,352 shares of the company's stock after acquiring an additional 508,027 shares during the period. Assetmark Inc. owned approximately 0.78% of Ingredion worth $70,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INGR. Migdal Insurance & Financial Holdings Ltd. bought a new position in Ingredion during the fourth quarter worth about $27,000. Prospera Private Wealth LLC bought a new stake in shares of Ingredion in the third quarter valued at about $41,000. Crews Bank & Trust bought a new stake in shares of Ingredion in the fourth quarter valued at about $48,000. Versant Capital Management Inc lifted its holdings in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company's stock valued at $61,000 after purchasing an additional 362 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Ingredion in the third quarter valued at about $86,000. 85.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business'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 transaction of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company's stock.

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Ingredion Stock Up 3.4 %

Shares of NYSE:INGR traded up $4.50 during midday trading on Friday, reaching $135.54. The company had a trading volume of 913,740 shares, compared to its average volume of 593,819. 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 business's 50 day moving average price is $132.08 and its 200 day moving average price is $136.54. The stock has a market cap of $8.70 billion, a PE ratio of 13.96, a P/E/G ratio of 1.03 and a beta of 0.74. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. Research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion's dividend payout ratio (DPR) is presently 32.96%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. BMO Capital Markets cut their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. UBS Group boosted their price target on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. 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 report on Wednesday, February 5th. Finally, Oppenheimer lowered their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $158.20.

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.