Ingredion Incorporated (NYSE:INGR) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,292 shares of the company’s stock after acquiring an additional 184 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Ingredion worth $26,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ingredion in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the third quarter valued at approximately $41,000. Crews Bank & Trust acquired a new stake in shares of Ingredion in the fourth quarter valued at approximately $48,000. Versant Capital Management Inc increased its holdings in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares during the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INGR. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group increased their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Stephens lowered their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets lowered their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average target price of $158.20.

Insider Activity at Ingredion

In related 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 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. This trade represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Ingredion Trading Up 1.0 %

INGR opened at $126.84 on Thursday. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The business has a fifty day simple moving average of $134.57 and a 200-day simple moving average of $136.45. The firm has a market cap of $8.26 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.04 and a beta of 0.74. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

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

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.52%. Ingredion’s dividend payout ratio is currently 32.96%.

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.