KLP Kapitalforvaltning AS Purchases Shares of 19,300 Ingredion Incorporated (NYSE:INGR)

KLP Kapitalforvaltning AS bought a new position in Ingredion Incorporated (NYSE:INGR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 19,300 shares of the company's stock, valued at approximately $2,655,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new stake in Ingredion in the 4th quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Ingredion in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after acquiring an additional 79 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Ingredion during the fourth quarter valued at approximately $48,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Ingredion during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Stock Performance

INGR traded down $0.74 during trading hours on Friday, hitting $134.86. The stock had a trading volume of 553,136 shares, compared to its average volume of 450,820. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The company's fifty day simple moving average is $131.59 and its 200 day simple moving average is $136.47. The stock has a market cap of $8.66 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

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

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. Ingredion's dividend payout ratio is currently 32.96%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INGR. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens reduced their price target 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. BMO Capital Markets lowered their price objective on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Finally, 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 research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.20.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the 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 sale, the chief executive officer now owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

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.