Invesco Ltd. Acquires 46,819 Shares of Ingredion Incorporated (NYSE:INGR)

Invesco Ltd. increased its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 870,317 shares of the company's stock after acquiring an additional 46,819 shares during the period. Invesco Ltd. owned approximately 1.34% of Ingredion worth $119,721,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Ingredion by 33.8% during the third quarter. Wellington Management Group LLP now owns 110,741 shares of the company's stock valued at $15,219,000 after buying an additional 27,948 shares during the last quarter. Jane Street Group LLC boosted its position in Ingredion by 375.4% during the 3rd quarter. Jane Street Group LLC now owns 38,363 shares of the company's stock worth $5,272,000 after acquiring an additional 30,294 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of 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 purchasing an additional 7,676 shares during the period. Barclays PLC raised its stake in shares of Ingredion by 31.9% during the third quarter. Barclays PLC now owns 47,291 shares of the company's stock valued at $6,499,000 after purchasing an additional 11,432 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock worth $160,516,000 after acquiring an additional 19,064 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Ratings Changes

INGR has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Oppenheimer dropped 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. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $145.00 price target (down previously from $165.00) on shares of Ingredion in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.60.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Down 1.6 %

NYSE INGR traded down $2.14 during trading on Wednesday, reaching $128.04. 474,059 shares of the company's stock were exchanged, compared to its average volume of 458,616. The firm has a market capitalization of $8.22 billion, a PE ratio of 13.19, a P/E/G ratio of 1.03 and a beta of 0.72. Ingredion Incorporated has a fifty-two week low of $110.63 and a fifty-two week high of $155.44. 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 fifty day simple moving average is $130.44 and its 200-day simple moving average is $135.93.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.50%. Ingredion's payout ratio is 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.