Allspring Global Investments Holdings LLC Sells 60,999 Shares of Ingredion Incorporated (NYSE:INGR)

Allspring Global Investments Holdings LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 44.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,303 shares of the company’s stock after selling 60,999 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Ingredion worth $10,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC grew its position in Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after purchasing an additional 74 shares in the last quarter. Signaturefd LLC grew its position in shares of Ingredion by 5.7% in the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after acquiring an additional 85 shares during the period. Tidal Investments LLC grew its position in shares of 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 period. Wealth Enhancement Advisory Services LLC grew its position in shares of Ingredion by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after acquiring an additional 97 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of Ingredion by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock valued at $2,490,000 after acquiring an additional 100 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INGR. Oppenheimer decreased their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets decreased their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Stephens cut 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. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays raised their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Ingredion Price Performance

Shares of Ingredion stock opened at $125.52 on Wednesday. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $135.29 and a two-hundred day simple moving average of $136.50. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 32.96%.

Insider Activity

In other news, CFO James D. Gray sold 54,869 shares of the business’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 value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Ingredion Company 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.