M&T Bank Corp Has $7.94 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

M&T Bank Corp reduced its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,713 shares of the company's stock after selling 3,606 shares during the quarter. M&T Bank Corp owned about 0.09% of Ingredion worth $7,939,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC grew its stake in shares of Ingredion by 195.2% during the third quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company's stock worth $1,595,000 after purchasing an additional 7,676 shares during the period. State Street Corp increased its stake in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock valued at $334,862,000 after acquiring an additional 19,560 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company's stock valued at $26,109,000 after acquiring an additional 83,708 shares during the period. Principal Financial Group Inc. boosted its stake in Ingredion by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company's stock worth $99,683,000 after acquiring an additional 10,812 shares during the last quarter. Finally, Fractal Investments LLC acquired a new position in Ingredion during the fourth quarter valued at approximately $344,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

INGR has been the topic of a number of recent analyst reports. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Oppenheimer decreased their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. UBS Group raised their price target on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Stephens lowered their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Finally, BMO Capital Markets cut 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $158.20.

Ingredion Stock Up 3.4 %

Shares of INGR traded up $4.50 during mid-day trading on Friday, hitting $135.54. 913,740 shares of the company's stock were exchanged, compared to its average volume of 593,819. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The company has a market cap of $8.70 billion, a PE ratio of 13.96, a P/E/G ratio of 1.03 and a beta of 0.74. The company has a 50-day simple moving average of $132.08 and a 200 day simple moving average of $136.54.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly 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. 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. During the same period in the previous year, the business earned $1.65 EPS. The company's revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. Ingredion's dividend payout ratio is 32.96%.

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.