Legal & General Group Plc Sells 5,678 Shares of Ingredion Incorporated (NYSE:INGR)

Legal & General Group Plc decreased its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,762 shares of the company's stock after selling 5,678 shares during the quarter. Legal & General Group Plc owned about 0.20% of Ingredion worth $18,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in INGR. Jane Street Group LLC raised its position in shares of Ingredion by 375.4% in 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 in the last quarter. Barclays PLC boosted its holdings in Ingredion by 31.9% in the third quarter. Barclays PLC now owns 47,291 shares of the company's stock worth $6,499,000 after acquiring an additional 11,432 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ingredion by 1.7% in the third 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 last quarter. Fulcrum Equity Management increased its holdings in shares of Ingredion by 18.2% during the third quarter. Fulcrum Equity Management now owns 4,033 shares of the company's stock valued at $554,000 after acquiring an additional 620 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Ingredion during the third quarter valued at $149,000. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INGR shares. StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Stephens lowered their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets reduced their price target 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, UBS Group reaffirmed a "neutral" rating and set a $145.00 price target (down previously from $165.00) on shares of Ingredion in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Ingredion currently has an average rating of "Moderate Buy" and an average price target of $152.60.

Insider Activity

In other news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Ingredion Trading Up 1.2 %

INGR stock traded up $1.48 during mid-day trading on Friday, reaching $129.59. 427,913 shares of the stock traded hands, compared to its average volume of 459,612. Ingredion Incorporated has a one year low of $111.54 and a one year high of $155.44. 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 business has a 50-day moving average price of $130.50 and a two-hundred day moving average price of $135.77. The stock has a market capitalization of $8.33 billion, a PE ratio of 13.35, a PEG ratio of 1.03 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.82 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current 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 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 2.47%. Ingredion's dividend payout ratio (DPR) 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.