Goelzer Investment Management Inc. Cuts Stock Position in Ingredion Incorporated (NYSE:INGR)

Goelzer Investment Management Inc. decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,562 shares of the company’s stock after selling 1,015 shares during the period. Goelzer Investment Management Inc. owned about 0.07% of Ingredion worth $6,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Ingredion by 154.0% during the 2nd quarter. Renaissance Technologies LLC now owns 41,405 shares of the company’s stock worth $4,749,000 after buying an additional 25,105 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Ingredion by 191.0% during the second quarter. Hsbc Holdings PLC now owns 19,970 shares of the company’s stock worth $2,292,000 after purchasing an additional 13,108 shares in the last quarter. Sei Investments Co. raised its stake in Ingredion by 30.8% in the 2nd quarter. Sei Investments Co. now owns 148,950 shares of the company’s stock valued at $17,084,000 after purchasing an additional 35,074 shares during the last quarter. Point72 DIFC Ltd lifted its holdings in Ingredion by 2,629.3% in the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after purchasing an additional 3,681 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Ingredion by 154.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,975 shares of the company’s stock worth $5,732,000 after purchasing an additional 30,339 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

INGR has been the topic of several research reports. UBS Group raised 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. Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays boosted 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. Finally, BMO Capital Markets raised their target price on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.17.

Insider Buying and Selling

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 12,795 shares in the company, valued at $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 available at the SEC website. 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 transaction of $861,120.52. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,692 shares of company stock valued at $9,634,868. Company insiders own 1.80% of the company’s stock.

Ingredion Trading Down 0.8 %

Shares of Ingredion stock opened at $135.60 on Friday. The stock has a 50 day moving average of $140.16 and a 200 day moving average of $134.90. 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 firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.10 and a beta of 0.75. Ingredion Incorporated has a fifty-two week low of $107.37 and a fifty-two week high of $155.44.

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

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. Ingredion’s dividend payout ratio is currently 31.22%.

Ingredion 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.