Skandinaviska Enskilda Banken AB publ Increases Position in Ingredion Incorporated (NYSE:INGR)

Skandinaviska Enskilda Banken AB publ boosted its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 254.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,300 shares of the company's stock after purchasing an additional 106,500 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.23% of Ingredion worth $20,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC grew its holdings in Ingredion by 1.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company's stock worth $572,000 after acquiring an additional 74 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after acquiring an additional 79 shares during the period. Transcend Capital Advisors LLC grew its holdings in Ingredion by 2.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock worth $594,000 after acquiring an additional 90 shares during the period. Truist Financial Corp grew its holdings in Ingredion by 1.3% during the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company's stock worth $943,000 after acquiring an additional 90 shares during the period. Finally, Tidal Investments LLC grew its holdings in Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company's stock worth $2,720,000 after acquiring an additional 94 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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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 transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on INGR shares. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Stephens reduced their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets reduced their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Finally, Oppenheimer reduced their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ingredion currently has an average rating of "Moderate Buy" and an average target price of $158.20.

Ingredion Stock Down 0.9 %

NYSE INGR traded down $1.17 during trading hours on Tuesday, hitting $132.06. The company's stock had a trading volume of 398,659 shares, compared to its average volume of 595,105. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The company has a market capitalization of $8.48 billion, a PE ratio of 13.60, a price-to-earnings-growth 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. The company's 50-day simple moving average is $131.59 and its two-hundred day simple moving average is $136.59.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter last year, the firm earned $1.65 EPS. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.42%. Ingredion's payout ratio is presently 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.