Walnut Level Capital LLC Takes $688,000 Position in Ingredion Incorporated (NYSE:INGR)

Walnut Level Capital LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,000 shares of the company's stock, valued at approximately $688,000.

A number of other large investors have also recently made changes to their positions in INGR. Orion Portfolio Solutions LLC raised its position in Ingredion by 195.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company's stock worth $1,595,000 after buying an additional 7,676 shares during the last quarter. State Street Corp raised its holdings in shares of Ingredion by 0.8% during the third 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 during the last quarter. Franklin Resources Inc. lifted its position in Ingredion by 75.7% during the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company's stock valued at $26,109,000 after purchasing an additional 83,708 shares during the period. Principal Financial Group Inc. boosted its holdings in Ingredion by 1.5% in the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company's stock valued at $99,683,000 after purchasing an additional 10,812 shares during the last quarter. Finally, Fractal Investments LLC acquired a new stake in Ingredion during the 4th quarter worth about $344,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Remove Ads

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The shares were 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 of the company's stock, valued at $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 available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Ingredion Price Performance

INGR traded up $0.71 during trading on Thursday, hitting $135.75. The company's stock had a trading volume of 90,644 shares, compared to its average volume of 431,866. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.03 and a beta of 0.75. The business's fifty day simple moving average is $131.57 and its 200 day simple moving average is $136.47. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44.

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

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's payout ratio is 32.96%.

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.