Hillsdale Investment Management Inc. Grows Stake in Ingredion Incorporated (NYSE:INGR)

Hillsdale Investment Management Inc. grew its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 3,923.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,230 shares of the company's stock after acquiring an additional 5,100 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Ingredion were worth $719,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sciencast Management LP purchased a new stake in Ingredion during the fourth quarter valued at approximately $1,575,000. Summit Global Investments acquired a new stake in Ingredion in the fourth quarter worth about $326,000. Millstone Evans Group LLC purchased a new stake in Ingredion during the 4th quarter worth approximately $55,000. Mindset Wealth Management LLC increased its stake in Ingredion by 2.1% during the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after purchasing an additional 82 shares in the last quarter. Finally, Magnetar Financial LLC raised its holdings in shares of Ingredion by 606.2% in the fourth quarter. Magnetar Financial LLC now owns 38,023 shares of the company's stock worth $5,230,000 after buying an additional 32,639 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the business'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 value of $1,361,392.20. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company's stock.

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Analyst Ratings Changes

Several equities analysts recently issued reports on INGR shares. BMO Capital Markets cut their target price 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. Stephens decreased their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. 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 research note on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.20.

Ingredion Stock Performance

Ingredion stock traded up $2.53 during midday trading on Wednesday, hitting $135.01. 462,725 shares of the company were exchanged, compared to its average volume of 433,200. The business has a fifty day simple moving average of $131.57 and a two-hundred day simple moving average of $136.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The firm has a market capitalization of $8.67 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.54 by $0.09. The business had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business's revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. On average, sell-side analysts forecast 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. 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 (DPR) is currently 32.96%.

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.