Brandes Investment Partners LP Sells 138,951 Shares of Ingredion Incorporated (NYSE:INGR)

Brandes Investment Partners LP reduced its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 301,469 shares of the company's stock after selling 138,951 shares during the quarter. Brandes Investment Partners LP owned approximately 0.46% of Ingredion worth $41,470,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of INGR. Assetmark Inc. increased its stake in Ingredion by 48.4% in the 3rd quarter. Assetmark Inc. now owns 1,325 shares of the company's stock worth $182,000 after buying an additional 432 shares in the last quarter. Atria Investments Inc increased its stake in Ingredion by 4.8% in the 3rd quarter. Atria Investments Inc now owns 7,028 shares of the company's stock worth $966,000 after buying an additional 323 shares in the last quarter. Victory Capital Management Inc. increased its stake in Ingredion by 124.8% in the 3rd quarter. Victory Capital Management Inc. now owns 61,575 shares of the company's stock worth $8,462,000 after buying an additional 34,189 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Ingredion by 3.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 21,396 shares of the company's stock worth $2,940,000 after buying an additional 670 shares in the last quarter. Finally, KBC Group NV increased its stake in Ingredion by 12.2% in the 3rd quarter. KBC Group NV now owns 1,726 shares of the company's stock worth $237,000 after buying an additional 187 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Ingredion Price Performance

Shares of Ingredion stock traded up $0.36 during trading on Wednesday, reaching $132.41. 468,748 shares of the stock traded hands, compared to its average volume of 420,810. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.03 and a beta of 0.75. The business has a fifty day simple moving average of $131.57 and a two-hundred day simple moving average of $136.57. 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 Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44.

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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. Sell-side analysts expect that Ingredion Incorporated will post 11.14 EPS for the current 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 Analysts Forecast Growth

A number of brokerages have issued reports on INGR. 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. 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, BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $158.20.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the 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 transaction, the chief executive officer now owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

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.