OLD Second National Bank of Aurora Makes New Investment in Ingredion Incorporated (NYSE:INGR)

OLD Second National Bank of Aurora purchased a new position in Ingredion Incorporated (NYSE:INGR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,734 shares of the company's stock, valued at approximately $1,752,000.

Several other hedge funds have also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ingredion in the 2nd quarter worth approximately $33,000. Prospera Private Wealth LLC purchased a new position in shares of Ingredion in the 3rd quarter worth approximately $41,000. Versant Capital Management Inc grew its holdings in Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company's stock valued at $61,000 after purchasing an additional 362 shares during the last quarter. Concord Wealth Partners lifted its stake in Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company's stock worth $68,000 after purchasing an additional 223 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Ingredion during the third quarter valued at approximately $86,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Down 1.3 %

Shares of INGR stock traded down $1.77 during mid-day trading on Monday, hitting $134.67. 408,460 shares of the stock traded hands, compared to its average volume of 491,368. Ingredion Incorporated has a 52-week low of $107.40 and a 52-week high of $155.44. The stock has a market cap of $8.78 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.11 and a beta of 0.74. 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 fifty day moving average is $139.51 and its two-hundred day moving average is $135.94.

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

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, January 2nd. Ingredion's dividend payout ratio is currently 31.22%.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company's stock, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James D. Gray sold 54,869 shares of Ingredion 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 of the company's stock, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,692 shares of company stock worth $9,634,868. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their target price on Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 6th. Stephens upgraded shares of Ingredion to a "hold" rating in a report on Monday, December 2nd. Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Ingredion currently has a consensus rating of "Moderate Buy" and an average price target of $155.17.

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.