Steward Partners Investment Advisory LLC Has $508,000 Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Steward Partners Investment Advisory LLC raised its position in Ingredion Incorporated (NYSE:INGR) by 770.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,691 shares of the company’s stock after purchasing an additional 3,267 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Ingredion were worth $508,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in Ingredion during the 4th quarter valued at $58,642,000. Pacer Advisors Inc. increased its stake in Ingredion by 16.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after purchasing an additional 268,389 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Ingredion during the 3rd quarter valued at $17,094,000. Allianz Asset Management GmbH boosted its holdings in Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock worth $115,930,000 after acquiring an additional 89,335 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after acquiring an additional 83,708 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on INGR shares. Oppenheimer cut their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Stephens cut their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets cut their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Price Performance

NYSE INGR opened at $130.39 on Thursday. The firm’s 50-day simple moving average is $131.83 and its two-hundred day simple moving average is $136.59. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The company has a market cap of $8.37 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. 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 announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating 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 firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. Research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.45%. Ingredion’s dividend payout ratio (DPR) is 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.