Magnetar Financial LLC Raises Stake in Ingredion Incorporated (NYSE:INGR)

Magnetar Financial LLC grew its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 606.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,023 shares of the company's stock after purchasing an additional 32,639 shares during the quarter. Magnetar Financial LLC owned approximately 0.06% of Ingredion worth $5,230,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC grew its position in Ingredion by 195.2% during the third quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company's stock valued at $1,595,000 after acquiring an additional 7,676 shares during the last quarter. State Street Corp boosted its stake in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock valued at $334,862,000 after purchasing an additional 19,560 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company's stock valued at $26,109,000 after purchasing an additional 83,708 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Ingredion by 1.5% in the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company's stock worth $99,683,000 after purchasing an additional 10,812 shares during the last quarter. Finally, Fractal Investments LLC bought a new stake in Ingredion in the fourth quarter worth $344,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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Ingredion Trading Up 2.0 %

NYSE:INGR traded up $2.66 during mid-day trading on Monday, reaching $132.99. 709,916 shares of the company's stock traded hands, compared to its average volume of 432,408. The company has a 50 day moving average price of $131.51 and a 200-day moving average price of $136.51. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted 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 return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the firm earned $1.65 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.41%. Ingredion's dividend payout ratio is 32.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on INGR shares. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Oppenheimer decreased their price target on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets lowered 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, Stephens cut their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Ingredion presently has an average rating of "Moderate Buy" and an average price target of $158.20.

Insider Activity

In other news, CEO James P. Zallie sold 10,815 shares of the firm'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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

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.