Foster & Motley Inc. Acquires 5,306 Shares of Ingredion Incorporated (NYSE:INGR)

Foster & Motley Inc. boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 46.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,815 shares of the company’s stock after purchasing an additional 5,306 shares during the quarter. Foster & Motley Inc.’s holdings in Ingredion were worth $2,313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in Ingredion by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,820 shares of the company’s stock worth $13,973,000 after acquiring an additional 2,376 shares during the last quarter. Mackenzie Financial Corp increased its stake in Ingredion by 9.1% in the 2nd quarter. Mackenzie Financial Corp now owns 11,218 shares of the company’s stock worth $1,287,000 after acquiring an additional 934 shares during the last quarter. Creative Planning increased its stake in Ingredion by 3.2% in the 2nd quarter. Creative Planning now owns 10,619 shares of the company’s stock worth $1,218,000 after acquiring an additional 328 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Ingredion by 26.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,594 shares of the company’s stock worth $183,000 after acquiring an additional 331 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Ingredion in the 2nd quarter worth approximately $432,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other news, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders have sold 65,692 shares of company stock valued at $9,634,868 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Shares of INGR stock opened at $137.42 on Friday. Ingredion Incorporated has a twelve month low of $107.40 and a twelve month high of $155.44. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.10 and a beta of 0.75. The stock has a fifty day simple moving average of $139.86 and a two-hundred day simple moving average of $135.52. 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 (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion during 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 business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. On average, analysts predict that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is 31.22%.

Wall Street Analysts Forecast Growth

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

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.