Teachers Retirement System of The State of Kentucky Lowers Stake in Ingredion Incorporated (NYSE:INGR)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,523 shares of the company’s stock after selling 1,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ingredion were worth $2,335,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after acquiring an additional 103 shares in the last quarter. Pflug Koory LLC lifted its holdings in shares of Ingredion by 0.9% in the 4th quarter. Pflug Koory LLC now owns 12,201 shares of the company’s stock worth $1,324,000 after buying an additional 112 shares during the period. STAR Financial Bank lifted its holdings in shares of Ingredion by 3.8% in the 4th quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock worth $389,000 after buying an additional 132 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of Ingredion by 63.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after buying an additional 147 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Ingredion by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 28,966 shares of the company’s stock valued at $2,850,000 after buying an additional 150 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INGR has been the topic of several recent research reports. BMO Capital Markets increased their target price on shares of Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. Barclays lifted their price objective on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average target price of $127.17.

Ingredion Trading Down 1.0 %

NYSE:INGR opened at $114.56 on Friday. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $122.18. The firm has a 50 day moving average of $115.80 and a 200 day moving average of $113.09. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.08 and a beta of 0.74.

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

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 1st will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Monday, July 1st. Ingredion’s dividend payout ratio (DPR) is presently 31.26%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 27,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.36, for a total value of $3,199,900.00. Following the completion of the transaction, the chief executive officer now owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO James D. Gray sold 8,490 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the sale, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 27,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the completion of the transaction, the chief executive officer now owns 52,197 shares in the company, valued at approximately $6,073,642.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,360 shares of company stock valued at $4,515,761. Insiders own 1.80% of the company’s stock.

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.