Ingredion Incorporated (NYSE:INGR) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 27.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,511 shares of the company's stock after purchasing an additional 8,131 shares during the period. Pinebridge Investments L.P. owned 0.06% of Ingredion worth $5,160,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BOK Financial Private Wealth Inc. acquired a new position in Ingredion during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Ingredion during the 4th quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Ingredion during the fourth quarter worth about $48,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Up 0.1 %

Shares of INGR stock traded up $0.13 on Friday, hitting $130.19. The stock had a trading volume of 340,437 shares, compared to its average volume of 462,450. The company's 50 day moving average price is $130.79 and its 200-day moving average price is $135.62. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The firm has a market capitalization of $8.37 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.03 and a beta of 0.72.

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, topping analysts' consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Tuesday, April 1st. Ingredion's dividend payout ratio is currently 32.96%.

Insider Activity

In other Ingredion 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 $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on INGR shares. Oppenheimer dropped their price target on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. BMO Capital Markets reduced their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. UBS Group set a $155.00 price target on Ingredion in a report on Tuesday, April 22nd. Finally, Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $152.20.

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.