Nordea Investment Management AB Sells 131,187 Shares of Ingredion Incorporated (NYSE:INGR)

Nordea Investment Management AB reduced its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,837 shares of the company's stock after selling 131,187 shares during the period. Nordea Investment Management AB owned 0.46% of Ingredion worth $41,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after acquiring an additional 125,543 shares during the last quarter. State Street Corp increased its stake in Ingredion by 0.8% during the 3rd 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 in the last quarter. Pacer Advisors Inc. raised its holdings in Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock worth $202,332,000 after buying an additional 846,967 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Ingredion by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock worth $211,529,000 after buying an additional 36,421 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 valued at $160,516,000 after buying an additional 19,064 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the business's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,197 shares of company stock valued at $9,702,325 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Performance

Shares of INGR traded up $0.69 on Wednesday, reaching $133.41. The company's stock had a trading volume of 323,585 shares, compared to its average volume of 376,857. Ingredion Incorporated has a 12-month low of $106.03 and a 12-month high of $155.44. The stock has a market capitalization of $8.69 billion, a P/E ratio of 13.02, a PEG ratio of 1.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The stock's 50 day simple moving average is $142.90 and its two-hundred day simple moving average is $133.34.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. Research analysts forecast that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion's payout ratio is presently 31.22%.

Analysts Set New Price Targets

INGR has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a report on Wednesday, November 6th. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Barclays lifted their price objective on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Oppenheimer upped their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Finally, Stephens raised shares of Ingredion to a "hold" rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Ingredion has an average rating of "Moderate Buy" and a consensus price target of $155.17.

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.