New Age Alpha Advisors LLC Takes Position in Ingredion Incorporated (NYSE:INGR)

New Age Alpha Advisors LLC purchased a new position in Ingredion Incorporated (NYSE:INGR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 43,482 shares of the company’s stock, valued at approximately $5,981,000. New Age Alpha Advisors LLC owned approximately 0.07% of Ingredion as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BOK Financial Private Wealth Inc. purchased a new position in Ingredion during the fourth quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ingredion in the fourth quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after buying an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in Ingredion in the 4th quarter worth approximately $48,000. 85.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Oppenheimer dropped their price target 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, Stephens lowered their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Stock Up 0.3 %

NYSE:INGR opened at $135.46 on Friday. The firm has a market capitalization of $8.69 billion, a P/E ratio of 13.95, a PEG ratio of 1.03 and a beta of 0.75. The company’s fifty day moving average price is $131.59 and its 200-day moving average price is $136.46. Ingredion Incorporated has a 1-year low of $109.51 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 quarterly 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 company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. Ingredion’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. Ingredion’s payout ratio is 32.96%.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

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.