New Age Alpha Advisors LLC Acquires Shares of 43,482 Ingredion Incorporated (NYSE:INGR)

New Age Alpha Advisors LLC purchased a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 43,482 shares of the company's stock, valued at approximately $5,981,000. New Age Alpha Advisors LLC owned approximately 0.07% of Ingredion at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Ingredion in the 4th quarter valued at $96,012,000. Assetmark Inc. grew its position in Ingredion by 38,341.7% during the fourth quarter. Assetmark Inc. now owns 509,352 shares of the company's stock worth $70,067,000 after buying an additional 508,027 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Ingredion in the 4th quarter valued at approximately $58,642,000. Prudential Financial Inc. grew its holdings in shares of Ingredion by 93.2% during the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock worth $89,790,000 after purchasing an additional 314,912 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of 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 purchasing an additional 268,389 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INGR shares. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Stephens decreased their price target on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets reduced their target price 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $158.20.

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Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Ingredion Trading Up 1.0 %

Ingredion stock traded up $1.28 during trading hours on Tuesday, reaching $135.69. 104,158 shares of the company's stock traded hands, compared to its average volume of 449,492. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.03 and a beta of 0.75. 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 fifty-two week low of $109.51 and a fifty-two week high of $155.44. The firm's 50 day moving average is $131.59 and its 200-day moving average is $136.48.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ingredion's revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. On average, analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) 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.