American International Group Inc. Lowers Stake in Ingredion Incorporated (NYSE:INGR)

American International Group Inc. reduced its position in shares of Ingredion Incorporated (NYSE:INGR) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,066 shares of the company’s stock after selling 5,117 shares during the quarter. American International Group Inc. owned 0.13% of Ingredion worth $9,558,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vista Investment Management boosted its stake in shares of Ingredion by 5.8% during the 4th quarter. Vista Investment Management now owns 9,935 shares of the company’s stock worth $1,078,000 after acquiring an additional 544 shares in the last quarter. Cresset Asset Management LLC lifted its stake in Ingredion by 16.9% in the 4th quarter. Cresset Asset Management LLC now owns 93,191 shares of the company’s stock valued at $10,187,000 after buying an additional 13,493 shares in the last quarter. Verition Fund Management LLC lifted its stake in Ingredion by 2,918.4% in the 4th quarter. Verition Fund Management LLC now owns 82,977 shares of the company’s stock valued at $9,005,000 after buying an additional 80,228 shares in the last quarter. CoreCommodity Management LLC lifted its stake in Ingredion by 12.4% in the 4th quarter. CoreCommodity Management LLC now owns 83,260 shares of the company’s stock valued at $9,036,000 after buying an additional 9,189 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Ingredion by 46.1% in the 4th quarter. Quadrature Capital Ltd now owns 10,632 shares of the company’s stock valued at $1,154,000 after buying an additional 3,356 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ingredion

In other news, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the sale, the chief financial officer now owns 42,833 shares in the company, valued at approximately $5,214,489.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the sale, the senior vice president now owns 28,848 shares in the company, valued at approximately $3,436,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James D. Gray sold 8,490 shares of Ingredion stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the sale, the chief financial officer now owns 42,833 shares of the company’s stock, valued at approximately $5,214,489.42. The disclosure for this sale can be found here. Insiders sold 38,360 shares of company stock worth $4,515,761 in the last 90 days. Insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.3 %

INGR stock opened at $115.73 on Wednesday. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.06 and a beta of 0.74. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $122.18. The firm has a 50-day moving average of $115.68 and a two-hundred day moving average of $113.06.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, meeting analysts’ consensus estimates of $2.08. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. Ingredion’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.80 EPS. As a group, analysts forecast that Ingredion Incorporated will post 9.76 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.70%. Ingredion’s dividend payout ratio is currently 31.26%.

Analyst Ratings Changes

A number of brokerages recently weighed in on INGR. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Barclays raised their price target on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets raised their price target on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and a consensus price target of $127.17.

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.