Victory Capital Management Inc. Raises Holdings in Ingredion Incorporated (NYSE:INGR)

Victory Capital Management Inc. raised its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 74.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,438 shares of the company's stock after buying an additional 45,863 shares during the quarter. Victory Capital Management Inc. owned about 0.16% of Ingredion worth $14,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after purchasing an additional 19,560 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock worth $260,056,000 after purchasing an additional 268,389 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock worth $211,529,000 after purchasing an additional 36,421 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock worth $160,516,000 after purchasing an additional 19,064 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company's stock worth $115,930,000 after purchasing an additional 89,335 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the firm'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 transaction, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company's stock.

Ingredion Trading Up 0.6 %

INGR traded up $0.82 during midday trading on Friday, reaching $131.37. 417,654 shares of the company's stock traded hands, compared to its average volume of 602,619. The firm has a fifty day moving average of $131.60 and a two-hundred day moving average of $136.57. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The business's revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

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 2.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's dividend payout ratio is currently 32.96%.

Wall Street Analysts Forecast Growth

INGR has been the subject of several analyst reports. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Stephens dropped their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. BMO Capital Markets dropped their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Finally, Oppenheimer dropped their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.20.

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.