Mariner LLC Buys 2,583 Shares of Ingredion Incorporated (NYSE:INGR)

Mariner LLC boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,980 shares of the company's stock after acquiring an additional 2,583 shares during the period. Mariner LLC's holdings in Ingredion were worth $2,198,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new stake in Ingredion during the 4th quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Ingredion during the fourth quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC raised its stake in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after buying an additional 79 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in shares of Ingredion during the 4th quarter valued at $48,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Price Performance

Ingredion stock traded up $0.13 during mid-day trading on Friday, hitting $130.19. The stock had a trading volume of 340,437 shares, compared to its average volume of 462,450. Ingredion Incorporated has a one year low of $111.54 and a one year 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 firm has a market capitalization of $8.37 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.03 and a beta of 0.72. The firm's 50 day moving average is $130.79 and its 200 day moving average is $135.62.

Ingredion (NYSE:INGR - Get Free Report) last issued 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. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. On average, sell-side analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. Ingredion's payout ratio is 32.96%.

Analyst Ratings Changes

INGR has been the subject of a number of research reports. BMO Capital Markets lowered their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock 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. Stephens reduced their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Oppenheimer cut their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group set a $155.00 target price on Ingredion in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $152.20.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.