Bank of Montreal Can Has $5.97 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Bank of Montreal Can lessened its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 46.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,402 shares of the company's stock after selling 37,750 shares during the quarter. Bank of Montreal Can owned about 0.07% of Ingredion worth $5,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Ingredion in the 4th quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ingredion in the fourth quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of 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 acquiring an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Ingredion in the 4th quarter worth $48,000. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction dated 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 approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Ingredion Stock Up 1.2 %

INGR traded up $1.48 on Friday, reaching $129.59. 427,913 shares of the company traded hands, compared to its average volume of 459,612. The stock's 50 day moving average price is $130.50 and its 200-day moving average price is $135.77. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.03 and a beta of 0.72. 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 current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR - Get Free Report) last posted 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. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. 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 prior year, the business posted $1.65 earnings per share. Ingredion's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) 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.