Ingredion Incorporated (NYSE:INGR) Stock Holdings Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 44.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 75,303 shares of the company’s stock after selling 60,999 shares during the period. Allspring Global Investments Holdings LLC owned 0.12% of Ingredion worth $10,279,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of INGR. TFB Advisors LLC bought a new position in shares of Ingredion during the 4th quarter valued at about $477,000. Louisiana State Employees Retirement System boosted its position in shares of Ingredion by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock valued at $2,490,000 after purchasing an additional 100 shares in the last quarter. Quent Capital LLC boosted its position in shares of Ingredion by 22.4% during the 4th quarter. Quent Capital LLC now owns 776 shares of the company’s stock valued at $107,000 after purchasing an additional 142 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Ingredion during the 4th quarter valued at about $161,000. Finally, Equitable Trust Co. boosted its position in shares of Ingredion by 4.2% during the 4th quarter. Equitable Trust Co. now owns 27,955 shares of the company’s stock valued at $3,845,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on INGR shares. Stephens reduced their price objective 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. UBS Group upped their price objective 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. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Oppenheimer reduced their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, BMO Capital Markets reduced their price target 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Ingredion Trading Down 1.0 %

Shares of INGR stock opened at $125.52 on Wednesday. Ingredion Incorporated has a 12 month low of $109.51 and a 12 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 business’s 50 day moving average is $135.29 and its two-hundred day moving average is $136.50. The company has a market cap of $8.18 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74.

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

Ingredion Dividend Announcement

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

Insider Buying and Selling

In other Ingredion news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

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.