Loomis Sayles & Co. L P Invests $859,000 in Ingredion Incorporated (NYSE:INGR)

Loomis Sayles & Co. L P acquired a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,244 shares of the company's stock, valued at approximately $859,000.

Several other large investors also recently made changes to their positions in INGR. Vanguard Group Inc. increased its holdings in Ingredion by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company's stock worth $1,002,222,000 after buying an additional 84,863 shares during the last quarter. State Street Corp increased its stake in shares of Ingredion by 0.8% during the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after purchasing an additional 19,560 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock valued at $260,056,000 after purchasing an additional 268,389 shares during the period. Geode Capital Management LLC lifted its stake in Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock valued at $160,516,000 after purchasing an additional 19,064 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Ingredion by 11.9% during the fourth quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company's stock worth $115,930,000 after purchasing an additional 89,335 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

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Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction 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 sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Performance

INGR stock traded up $0.50 during trading hours on Thursday, hitting $135.82. 65,994 shares of the stock were exchanged, compared to its average volume of 449,515. The company has a 50-day simple moving average of $131.58 and a two-hundred day simple moving average of $136.48. The firm has a market capitalization of $8.72 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.03 and a beta of 0.71. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month 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.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.82 billion. During the same period last year, the firm earned $1.65 earnings per share. Ingredion's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business 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. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) is currently 32.96%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INGR shares. Stephens cut their price objective on 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 cut their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Oppenheimer cut their target price on shares of Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.20.

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.