Ingredion Incorporated (NYSE:INGR) Shares Sold by FIL Ltd

FIL Ltd decreased its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 56.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 121,640 shares of the company's stock after selling 157,470 shares during the quarter. FIL Ltd owned about 0.19% of Ingredion worth $16,733,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Ingredion in the 4th quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ingredion in the 4th quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 worth $31,000 after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Ingredion by 32.4% in the fourth 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 last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Ingredion in the fourth quarter worth approximately $48,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INGR has been the topic of a number of research reports. Oppenheimer reduced their target price on shares of Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. UBS Group reaffirmed 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 Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens cut 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 note on Wednesday, February 5th. Finally, BMO Capital Markets cut their price target on Ingredion from $147.00 to $133.00 and set a "market perform" 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 assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $152.60.

Ingredion Price Performance

Shares of NYSE:INGR traded up $1.69 during midday trading on Thursday, reaching $129.80. 126,438 shares of the company's stock traded hands, compared to its average volume of 457,333. The company has a market cap of $8.33 billion, a P/E ratio of 13.35, a PEG ratio of 1.03 and a beta of 0.72. The company has a fifty day simple moving average of $130.44 and a two-hundred day simple moving average of $135.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a 1 year low of $110.63 and a 1 year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Equities analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The company 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 dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.47%. Ingredion's dividend payout ratio is currently 32.96%.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the firm's 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 sale, the chief executive officer now owns 34,127 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Ingredion Company 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.