Treasurer of the State of North Carolina Acquires 2,212 Shares of Ingredion Incorporated (NYSE:INGR)

Treasurer of the State of North Carolina grew its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,834 shares of the company's stock after purchasing an additional 2,212 shares during the period. Treasurer of the State of North Carolina owned approximately 0.13% of Ingredion worth $11,532,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of INGR. BOK Financial Private Wealth Inc. bought a new position in shares of Ingredion during the 4th quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Ingredion during the 4th quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 worth $31,000 after buying an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in Ingredion during the fourth quarter worth about $48,000. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INGR has been the subject of several analyst reports. BMO Capital Markets decreased their target price on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Stephens dropped their price objective 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. Oppenheimer decreased 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. Finally, UBS Group reaffirmed a "neutral" rating and set a $145.00 price target (down previously from $165.00) on shares of Ingredion in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $152.60.

Ingredion Stock Performance

Shares of INGR stock traded up $1.48 on Friday, hitting $129.59. The company's stock had a trading volume of 427,913 shares, compared to its average volume of 458,774. Ingredion Incorporated has a fifty-two week low of $111.49 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The stock's 50 day moving average is $130.48 and its 200-day moving average is $135.82. The company has a market capitalization of $8.33 billion, a PE ratio of 13.35, a PEG 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. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. 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. Stockholders of record on Tuesday, April 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's payout ratio is presently 32.96%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business'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 completion of the transaction, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company 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.