Modern Wealth Management LLC Acquires New Holdings in Ingredion Incorporated (NYSE:INGR)

Modern Wealth Management LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,188 shares of the company's stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 84,863 shares in the last quarter. State Street Corp increased its position in Ingredion by 0.8% during the third quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after buying an additional 19,560 shares during the period. Pacer Advisors Inc. lifted its stake in Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock valued at $260,056,000 after buying an additional 268,389 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $160,516,000 after acquiring an additional 19,064 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of 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 acquiring an additional 89,335 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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Ingredion Stock Performance

Shares of NYSE:INGR traded up $0.80 during midday trading on Tuesday, hitting $136.01. The stock had a trading volume of 345,237 shares, compared to its average volume of 450,864. The company has a market capitalization of $8.73 billion, a PE ratio of 14.01, a P/E/G ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The stock has a 50 day moving average price of $131.58 and a two-hundred day moving average price of $136.49. 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 results 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 business had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period last year, the firm earned $1.65 EPS. The company's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's dividend payout ratio is currently 32.96%.

Analysts Set New Price Targets

Several research firms recently commented on INGR. BMO Capital Markets reduced 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 report on Wednesday, February 5th. Oppenheimer decreased 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. Stephens dropped 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. Finally, StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $158.20.

Insiders Place Their Bets

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

About Ingredion

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.