Martingale Asset Management L P Sells 15,589 Shares of Ingredion Incorporated (NYSE:INGR)

Martingale Asset Management L P reduced its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,318 shares of the company's stock after selling 15,589 shares during the period. Martingale Asset Management L P owned 0.28% of Ingredion worth $25,355,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Ingredion by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company's stock valued at $1,002,222,000 after acquiring an additional 84,863 shares during the period. State Street Corp grew its position in shares of Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company's stock valued at $334,862,000 after purchasing an additional 19,560 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Ingredion by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock worth $260,056,000 after purchasing an additional 268,389 shares during the period. Geode Capital Management LLC lifted its holdings in Ingredion by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company's stock worth $162,703,000 after purchasing an additional 14,741 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Ingredion by 5.7% in the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company's stock valued at $119,721,000 after purchasing an additional 46,819 shares during the period. 85.27% of the stock is owned by institutional investors.

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Ingredion Trading Up 1.9 %

INGR stock traded up $2.37 during trading on Friday, hitting $129.88. 490,496 shares of the company traded hands, compared to its average volume of 459,258. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The firm has a market capitalization of $8.34 billion, a PE ratio of 13.38, a P/E/G ratio of 1.03 and a beta of 0.72. The company has a 50-day moving average of $130.28 and a 200-day moving average of $136.02.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating 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 firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. Analysts predict 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.46%. Ingredion's dividend payout ratio is presently 32.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on INGR shares. Stephens reduced their price target on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. UBS Group reaffirmed a "neutral" rating and issued a $145.00 target price (down previously from $165.00) on shares of Ingredion in a report on Monday, April 7th. BMO Capital Markets dropped their price target on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Oppenheimer lowered their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Ingredion currently has an average rating of "Moderate Buy" and an average target price of $152.60.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Ingredion 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.