Harvest Fund Management Co. Ltd Buys 3,116 Shares of Ingredion Incorporated (NYSE:INGR)

Harvest Fund Management Co. Ltd boosted its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 1,231.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,369 shares of the company's stock after buying an additional 3,116 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Ingredion were worth $464,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. acquired a new position in shares of Ingredion in the 4th quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Ingredion during the fourth quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new position in shares of Ingredion in the third quarter worth about $41,000. EverSource Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 79 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Ingredion during the fourth quarter valued at approximately $48,000. Institutional investors own 85.27% of the company's stock.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the sale, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

Several equities analysts have weighed in on INGR shares. Oppenheimer lowered their price objective 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. Stephens dropped their price target on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets decreased their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $158.20.

Ingredion Stock Up 1.9 %

NYSE INGR traded up $2.53 on Wednesday, reaching $135.01. The stock had a trading volume of 462,725 shares, compared to its average volume of 640,753. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.03 and a beta of 0.75. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The business has a 50 day moving average price of $131.53 and a 200 day moving average price of $136.48.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share 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 for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The company's revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. Ingredion's dividend payout ratio is currently 32.96%.

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.