Steward Partners Investment Advisory LLC Increases Position in Ingredion Incorporated (NYSE:INGR)

Steward Partners Investment Advisory LLC raised its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 770.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,691 shares of the company's stock after purchasing an additional 3,267 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Ingredion were worth $508,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of 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 acquiring an additional 19,560 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Ingredion by 16.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock valued at $260,056,000 after acquiring an additional 268,389 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingredion by 2.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock valued at $211,529,000 after acquiring an additional 36,421 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ingredion by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock valued at $160,516,000 after acquiring an additional 19,064 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company's stock valued at $115,930,000 after acquiring an additional 89,335 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Remove Ads

Ingredion Trading Up 0.6 %

Shares of INGR stock traded up $0.82 during mid-day trading on Friday, hitting $131.37. The company's stock had a trading volume of 417,654 shares, compared to its average volume of 602,619. 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 $8.43 billion, a PE ratio of 13.53, a P/E/G ratio of 1.03 and a beta of 0.75. The company's fifty day simple moving average is $131.60 and its 200-day simple moving average is $136.57. 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 (NYSE:INGR - Get Free Report) last issued its 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 business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm's revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, April 1st. Ingredion's payout ratio is 32.96%.

Wall Street Analyst Weigh In

Several research analysts have commented on INGR shares. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Stephens cut their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Oppenheimer cut their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $158.20.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.