Harbor Capital Advisors Inc. Sells 35,685 Shares of Ingredion Incorporated (NYSE:INGR)

Harbor Capital Advisors Inc. reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 42.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,345 shares of the company's stock after selling 35,685 shares during the quarter. Harbor Capital Advisors Inc. owned 0.08% of Ingredion worth $6,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion during the second quarter valued at $33,000. Prospera Private Wealth LLC acquired a new stake in Ingredion in the third quarter worth approximately $41,000. Abich Financial Wealth Management LLC acquired a new position in Ingredion during the second quarter worth about $56,000. Versant Capital Management Inc raised its holdings in shares of Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company's stock worth $61,000 after purchasing an additional 362 shares in the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company's stock valued at $68,000 after buying an additional 223 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Trading Down 2.2 %

Shares of INGR traded down $2.89 during trading hours on Friday, reaching $130.62. The stock had a trading volume of 708,097 shares, compared to its average volume of 432,066. The firm has a 50-day moving average of $142.90 and a 200 day moving average of $133.34. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The company has a market cap of $8.51 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.24 and a beta of 0.75. Ingredion Incorporated has a 52 week low of $107.20 and a 52 week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. Ingredion's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.33 EPS. On average, sell-side analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.45%. Ingredion's dividend payout ratio is 31.22%.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James D. Gray sold 54,869 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,692 shares of company stock valued at $9,634,868 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INGR has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a report on Wednesday, November 6th. Oppenheimer upped their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. UBS Group lifted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Stephens raised shares of Ingredion to a "hold" rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.17.

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.