Precision Wealth Strategies LLC Acquires Shares of 4,084 Ingredion Incorporated (NYSE:INGR)

Precision Wealth Strategies LLC bought a new stake in Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,084 shares of the company’s stock, valued at approximately $562,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INGR. Hennessy Advisors Inc. bought a new position in Ingredion during the 4th quarter valued at $58,642,000. Pacer Advisors Inc. lifted its position in shares of Ingredion by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after purchasing an additional 268,389 shares during the last quarter. International Assets Investment Management LLC grew its stake in Ingredion by 55,219.9% in the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after purchasing an additional 174,495 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Ingredion in the third quarter valued at about $17,094,000. Finally, Franklin Resources Inc. raised its stake in Ingredion by 75.7% during the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after buying an additional 83,708 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were 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 $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,692 shares of company stock worth $9,634,868. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Ingredion Price Performance

Shares of NYSE:INGR opened at $136.40 on Friday. The firm’s 50 day moving average is $139.51 and its two-hundred day moving average is $135.82. The firm has a market capitalization of $8.89 billion, a P/E ratio of 13.31, a PEG ratio of 1.12 and a beta of 0.75. 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 Incorporated has a 52 week low of $107.40 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $2.33 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Analysts anticipate that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.35%. Ingredion’s payout ratio is 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.