Cerity Partners LLC Grows Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Cerity Partners LLC increased its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,941 shares of the company's stock after purchasing an additional 2,250 shares during the quarter. Cerity Partners LLC's holdings in Ingredion were worth $2,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company's stock worth $572,000 after buying an additional 74 shares during the period. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 79 shares during the period. Mindset Wealth Management LLC increased its stake in Ingredion by 2.1% in the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock worth $538,000 after purchasing an additional 82 shares during the period. Transcend Capital Advisors LLC lifted its position in Ingredion by 2.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock valued at $594,000 after purchasing an additional 90 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company's stock valued at $943,000 after purchasing an additional 90 shares during the period. 85.27% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Up 1.2 %

Shares of INGR stock traded up $1.48 during mid-day trading on Friday, reaching $129.59. 427,913 shares of the company's stock traded hands, compared to its average volume of 459,612. The company'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 P/E ratio of 13.35, a P/E/G ratio of 1.03 and a beta of 0.72. 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 $111.54 and a 12 month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $1.82 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal 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 paid a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.47%. Ingredion's dividend payout ratio is currently 32.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INGR shares. Oppenheimer lowered their price target on shares of Ingredion from $178.00 to $167.00 and set an "outperform" 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 reduced 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 reiterated a "neutral" rating and issued a $145.00 price objective (down previously from $165.00) on shares of Ingredion in a report on Monday, April 7th. Finally, Stephens reduced their price target 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $152.60.

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.