GAMMA Investing LLC Boosts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

GAMMA Investing LLC grew its position in Ingredion Incorporated (NYSE:INGR) by 42.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,369 shares of the company’s stock after acquiring an additional 406 shares during the quarter. GAMMA Investing LLC’s holdings in Ingredion were worth $188,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INGR. Versant Capital Management Inc lifted its holdings in Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ingredion by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 305,827 shares of the company’s stock worth $42,030,000 after buying an additional 35,657 shares in the last quarter. Principal Financial Group Inc. boosted its position in Ingredion by 1.5% during the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock worth $99,683,000 after acquiring an additional 10,812 shares during the last quarter. Franklin Resources Inc. grew its stake in Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after acquiring an additional 83,708 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Ingredion by 0.5% in the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after acquiring an additional 94 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,692 shares of company stock worth $9,634,868. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays boosted their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Stephens upgraded shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

Ingredion Trading Up 0.5 %

INGR opened at $133.41 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.24 and a beta of 0.75. The business has a fifty day moving average price of $142.90 and a 200 day moving average price of $133.34. Ingredion Incorporated has a 12 month low of $106.03 and a 12 month high of $155.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. During the same period in the previous year, the company posted $2.33 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.40%. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

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.