Ingredion Incorporated (NYSE:INGR) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 124.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,214 shares of the company's stock after buying an additional 9,535 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Ingredion were worth $2,362,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its stake in Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after acquiring an additional 19,560 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Ingredion by 16.5% during the 4th 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 last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Ingredion by 2.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock worth $211,529,000 after purchasing an additional 36,421 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock worth $160,516,000 after purchasing an additional 19,064 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Ingredion by 1.5% in the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company's stock valued at $99,683,000 after buying an additional 10,812 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Stock Performance

Shares of Ingredion stock traded up $0.28 during trading on Thursday, reaching $128.24. The company's stock had a trading volume of 455,029 shares, compared to its average volume of 538,708. The company has a 50-day moving average price of $136.37 and a two-hundred day moving average price of $136.33. Ingredion Incorporated has a fifty-two week low of $108.40 and a fifty-two week high of $155.44. The firm has a market cap of $8.36 billion, a PE ratio of 13.21, a P/E/G ratio of 1.04 and a beta of 0.74. 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 posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 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 firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm's revenue was down 6.3% compared to the same quarter last year. On average, analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.50%. Ingredion's dividend payout ratio is currently 32.96%.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares of the company's stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,992 shares of company stock worth $8,913,841. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group upped their price objective on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. BMO Capital Markets dropped 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 note on Wednesday, February 5th. Barclays boosted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Finally, Stephens cut their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $154.33.

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.