Ingredion Incorporated (NYSE:INGR) Stake Boosted by Retirement Systems of Alabama

Retirement Systems of Alabama raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,726 shares of the company’s stock after purchasing an additional 192 shares during the period. Retirement Systems of Alabama owned about 0.24% of Ingredion worth $21,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted its position in Ingredion by 1.8% during the 4th 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 during the period. Signaturefd LLC boosted its holdings in shares of Ingredion by 5.7% during the third 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% during the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after acquiring an additional 94 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 worth $1,427,000 after acquiring an additional 97 shares during the period. Finally, Seelaus Asset Management LLC lifted its position in Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after purchasing an additional 105 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Performance

Shares of NYSE INGR opened at $127.34 on Friday. Ingredion Incorporated has a 1 year low of $107.77 and a 1 year high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a fifty day moving average price of $138.40 and a two-hundred day moving average price of $136.03. The firm has a market cap of $8.30 billion, a P/E ratio of 12.42, a PEG ratio of 1.11 and a beta of 0.74.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the company earned $1.65 earnings per share. Ingredion’s revenue was down 6.3% compared to the same quarter last year. Research analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is 32.96%.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 6,122 shares of Ingredion 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 transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James D. Gray sold 54,869 shares of the company’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 transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,992 shares of company stock worth $8,913,841. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays raised their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Oppenheimer lowered their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets decreased their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, 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 research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.33.

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.