Atria Investments Inc Trims Stock Position in Ingredion Incorporated (NYSE:INGR)

Atria Investments Inc cut its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,941 shares of the company's stock after selling 2,087 shares during the period. Atria Investments Inc's holdings in Ingredion were worth $680,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in INGR. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Ingredion in the 4th quarter worth $27,000. Prospera Private Wealth LLC purchased a new stake in shares of Ingredion in the 3rd quarter worth $41,000. Crews Bank & Trust purchased a new stake in shares of Ingredion in the 4th quarter worth $48,000. Versant Capital Management Inc increased its stake in shares of Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company's stock worth $61,000 after purchasing an additional 362 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Ingredion in the 3rd quarter worth $86,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Price Performance

Shares of INGR traded down $1.17 during midday trading on Tuesday, hitting $132.06. 398,659 shares of the company traded hands, compared to its average volume of 420,406. The firm has a 50 day moving average of $131.59 and a 200-day moving average of $136.59. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62.

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Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly 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. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned $1.65 EPS. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, 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 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 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's payout ratio is 32.96%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INGR shares. BMO Capital Markets reduced their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens cut their price target 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. Finally, Oppenheimer cut their price target on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ingredion presently has a consensus rating of "Moderate Buy" and an average price target of $158.20.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Ingredion Company 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.