Crews Bank & Trust Makes New $48,000 Investment in Ingredion Incorporated (NYSE:INGR)

Crews Bank & Trust purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 346 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion during the second quarter worth $33,000. Prospera Private Wealth LLC bought a new stake in shares of Ingredion in the 3rd quarter valued at about $41,000. Versant Capital Management Inc increased its stake 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 buying an additional 362 shares during the period. Concord Wealth Partners increased its stake 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 buying an additional 223 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Ingredion during the third quarter worth about $86,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of NYSE INGR opened at $136.40 on Friday. The firm has a market capitalization of $8.89 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.12 and a beta of 0.75. The firm’s 50-day moving average price is $139.51 and its 200-day moving average price is $135.82. 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 1-year low of $107.40 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. Equities research analysts anticipate that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.35%. Ingredion’s payout ratio is 31.22%.

Insiders Place Their Bets

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,692 shares of company stock worth $9,634,868. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Oppenheimer boosted their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Barclays boosted their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

About Ingredion

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.