Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 24.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,491 shares of the company's stock after acquiring an additional 3,292 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Ingredion were worth $2,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BOK Financial Private Wealth Inc. acquired a new position in Ingredion during the fourth quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ingredion during the fourth quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new position in Ingredion during the third quarter worth approximately $41,000. Crews Bank & Trust acquired a new position in Ingredion during the fourth quarter worth approximately $48,000. Finally, Versant Capital Management Inc increased its position in Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company's stock worth $61,000 after buying an additional 362 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

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Ingredion Price Performance

Shares of NYSE INGR traded down $0.67 during trading on Thursday, reaching $131.74. The company had a trading volume of 511,310 shares, compared to its average volume of 421,451. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44. The stock has a market capitalization of $8.46 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The stock has a 50-day moving average price of $131.55 and a two-hundred day moving average price of $136.54. 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 (NYSE:INGR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. As a group, sell-side analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.43%. Ingredion's payout ratio is currently 32.96%.

Analyst Upgrades and Downgrades

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

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.