Brandywine Global Investment Management LLC Grows Holdings in Ingredion Incorporated (NYSE:INGR)

Brandywine Global Investment Management LLC raised its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 57.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,881 shares of the company's stock after acquiring an additional 24,679 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.10% of Ingredion worth $9,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Orion Portfolio Solutions LLC increased its holdings in Ingredion by 195.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company's stock worth $1,595,000 after acquiring an additional 7,676 shares in the last quarter. State Street Corp increased its stake in shares of Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after purchasing an additional 19,560 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company's stock valued at $26,109,000 after purchasing an additional 83,708 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Ingredion by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company's stock valued at $99,683,000 after buying an additional 10,812 shares in the last quarter. Finally, Fractal Investments LLC purchased a new stake in Ingredion in the 4th quarter worth $344,000. Institutional investors own 85.27% of the company's stock.

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Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INGR. Oppenheimer lowered their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. BMO Capital Markets dropped their price target 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. Finally, Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.20.

Ingredion Price Performance

Ingredion stock traded down $5.72 during midday trading on Friday, reaching $130.69. 611,511 shares of the stock traded hands, compared to its average volume of 453,271. The stock has a market cap of $8.39 billion, a P/E ratio of 13.46, a PEG ratio of 1.03 and a beta of 0.71. The stock's fifty day moving average is $131.47 and its 200-day moving average is $136.47. 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 12 month low of $109.51 and a 12 month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted 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 firm had revenue of $1.80 billion during 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 company's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders 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 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) is 32.96%.

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.