Envestnet Asset Management Inc. Trims Stake in Ingredion Incorporated (NYSE:INGR)

Envestnet Asset Management Inc. trimmed its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,484 shares of the company's stock after selling 17,391 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of Ingredion worth $26,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Ingredion by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company's stock valued at $1,002,222,000 after purchasing an additional 84,863 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock worth $260,056,000 after buying an additional 268,389 shares during the period. Geode Capital Management LLC grew its stake in Ingredion by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company's stock valued at $162,703,000 after buying an additional 14,741 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company's stock valued at $115,930,000 after acquiring an additional 89,335 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Ingredion by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 753,680 shares of the company's stock worth $103,675,000 after acquiring an additional 28,306 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This 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 through this hyperlink. Company insiders own 1.80% of the company's stock.

Ingredion Price Performance

NYSE:INGR traded up $1.48 during midday trading on Friday, hitting $129.59. The company had a trading volume of 427,913 shares, compared to its average volume of 458,774. The stock's fifty day moving average price is $130.48 and its 200-day moving average price is $135.82. Ingredion Incorporated has a 52-week low of $111.49 and a 52-week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.33 billion, a PE ratio of 13.35, a P/E/G ratio of 1.03 and a beta of 0.72.

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, beating analysts' consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. Ingredion's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. As a group, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's dividend payout ratio is presently 32.96%.

Analysts Set New Price Targets

INGR has been the topic of a number of recent research reports. Oppenheimer dropped their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. UBS Group restated a "neutral" rating and issued a $145.00 price objective (down from $165.00) on shares of Ingredion in a research report on Monday, April 7th. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens reduced their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Finally, BMO Capital Markets dropped 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.