Grantham Mayo Van Otterloo & Co. LLC Decreases Holdings in Ingredion Incorporated (NYSE:INGR)

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,695 shares of the company's stock after selling 14,175 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Ingredion were worth $2,434,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. IHT Wealth Management LLC purchased a new stake in shares of Ingredion during the third quarter valued at approximately $221,000. Quantinno Capital Management LP boosted its position in Ingredion by 3.0% during the 3rd quarter. Quantinno Capital Management LP now owns 28,617 shares of the company's stock valued at $3,933,000 after buying an additional 836 shares during the period. State Street Corp grew its holdings in Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after acquiring an additional 19,560 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Ingredion by 33.8% in the third quarter. Wellington Management Group LLP now owns 110,741 shares of the company's stock valued at $15,219,000 after acquiring an additional 27,948 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Ingredion by 375.4% in the third quarter. Jane Street Group LLC now owns 38,363 shares of the company's stock valued at $5,272,000 after acquiring an additional 30,294 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Up 1.9 %

Shares of NYSE:INGR traded up $2.37 during midday trading on Friday, reaching $129.88. The company's stock had a trading volume of 490,496 shares, compared to its average volume of 459,829. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44. The firm has a market capitalization of $8.34 billion, a P/E ratio of 13.38, a PEG ratio of 1.03 and a beta of 0.72. The firm has a 50 day moving average of $130.28 and a 200-day moving average of $136.01. 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 (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, beating the consensus estimate 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 analyst estimates of $1.82 billion. During the same period last year, the business earned $1.65 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. On average, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) is 32.96%.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 10,815 shares of the business'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 value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. 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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INGR. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. BMO Capital Markets reduced their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Stephens dropped 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. UBS Group reiterated a "neutral" rating and issued a $145.00 price target (down previously from $165.00) on shares of Ingredion in a report on Monday, April 7th. Finally, Oppenheimer decreased their price objective 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $152.60.

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.