Caprock Group LLC Takes Position in Ingredion Incorporated (NYSE:INGR)

Caprock Group LLC purchased a new position in Ingredion Incorporated (NYSE:INGR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,917 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds have also added to or reduced their stakes in INGR. Prospera Private Wealth LLC purchased a new position in shares of Ingredion in the 3rd quarter valued at approximately $41,000. Crews Bank & Trust purchased a new position in Ingredion during the fourth quarter valued at $48,000. Versant Capital Management Inc boosted its holdings in shares of Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after buying an additional 362 shares in the last quarter. Concord Wealth Partners grew its position in shares of Ingredion by 82.6% in the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after buying an additional 223 shares during the period. Finally, Quest Partners LLC purchased a new position in Ingredion during the 3rd quarter valued at about $86,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 directly owns 29,034 shares in the company, 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. Insiders have sold 60,992 shares of company stock valued at $8,913,841 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Oppenheimer reduced their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday. BMO Capital Markets dropped their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday. Barclays raised their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Stephens lowered their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.33.

Ingredion Stock Up 0.8 %

Ingredion stock opened at $127.34 on Friday. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.11 and a beta of 0.74. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12 month low of $107.77 and a 12 month high of $155.44. The stock has a fifty day simple moving average of $138.40 and a two-hundred day simple moving average of $136.03.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts predict that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.51%. Ingredion’s dividend payout ratio is presently 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.