Ingredion Incorporated (NYSE:INGR) Holdings Lowered by Spire Wealth Management

Spire Wealth Management trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 91.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,145 shares of the company's stock after selling 11,879 shares during the quarter. Spire Wealth Management's holdings in Ingredion were worth $158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in Ingredion by 222.6% in the 3rd quarter. SG Americas Securities LLC now owns 3,810 shares of the company's stock valued at $524,000 after purchasing an additional 2,629 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Ingredion during the third quarter worth $471,000. GAMMA Investing LLC raised its position in Ingredion by 60.5% in the third quarter. GAMMA Investing LLC now owns 963 shares of the company's stock worth $132,000 after acquiring an additional 363 shares in the last quarter. Brookstone Capital Management acquired a new stake in Ingredion in the third quarter valued at $213,000. Finally, Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Ingredion during the 3rd quarter worth $219,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Up 0.9 %

Shares of INGR stock traded up $1.12 during trading hours on Tuesday, hitting $128.68. 386,634 shares of the company were exchanged, compared to its average volume of 543,572. The business's 50-day simple moving average is $137.21 and its two-hundred day simple moving average is $136.33. Ingredion Incorporated has a one year low of $107.77 and a one year high of $155.44. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $1.65 EPS. The business's quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.49%. Ingredion's dividend payout ratio is currently 32.96%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INGR. Stephens lowered their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Oppenheimer reduced their target price on shares of Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Barclays lifted their price target on Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. BMO Capital Markets cut their price objective on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Finally, UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $154.33.

Insider Buying and Selling at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares of the company's stock, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,992 shares of company stock worth $8,913,841. 1.80% of the stock is owned by insiders.

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.