Guggenheim Capital LLC Sells 136,655 Shares of Ingredion Incorporated (NYSE:INGR)

Guggenheim Capital LLC decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 73.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,235 shares of the company's stock after selling 136,655 shares during the period. Guggenheim Capital LLC owned approximately 0.07% of Ingredion worth $6,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INGR. BOK Financial Private Wealth Inc. bought a new position in shares of Ingredion during the 4th quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ingredion during the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after purchasing an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in shares of Ingredion during the 4th quarter valued at about $48,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction 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. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on INGR. Oppenheimer dropped their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday. BMO Capital Markets dropped their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. UBS Group set a $155.00 target price on Ingredion in a report on Tuesday. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Stephens dropped their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.20.

Ingredion Stock Performance

Shares of NYSE INGR traded up $0.02 during midday trading on Wednesday, hitting $130.79. 61,541 shares of the company's stock traded hands, compared to its average volume of 597,715. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72. 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 fifty day moving average of $130.56 and a 200 day moving average of $135.70.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. On average, analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) 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.