Ingredion Incorporated (NYSE:INGR) Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 81.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,010 shares of the company’s stock after buying an additional 1,802 shares during the period. WCM Investment Management LLC’s holdings in Ingredion were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Hennessy Advisors Inc. purchased a new position in Ingredion in the fourth quarter valued at $58,642,000. Pacer Advisors Inc. raised its position in Ingredion by 16.5% in 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. International Assets Investment Management LLC boosted its stake in shares of Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after buying an additional 174,495 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Ingredion during the third quarter worth about $17,094,000. Finally, Franklin Resources Inc. increased its stake in shares of Ingredion by 75.7% during the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after buying an additional 83,708 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays boosted their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets cut their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Oppenheimer lowered their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average price target of $154.33.

Ingredion Stock Performance

NYSE INGR opened at $127.66 on Tuesday. The company has a fifty day moving average of $137.62 and a two-hundred day moving average of $136.28. The company has a market capitalization of $8.32 billion, a PE ratio of 13.15, a P/E/G ratio of 1.04 and a beta of 0.74. 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 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

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

Ingredion Announces Dividend

The firm also recently declared 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 of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.51%. Ingredion’s dividend payout ratio (DPR) is 32.96%.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction 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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold a total of 60,992 shares of company stock worth $8,913,841 in the last 90 days. Company insiders own 1.80% of the company’s stock.

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.