Raymond James & Associates Cuts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Raymond James & Associates lessened its holdings in Ingredion Incorporated (NYSE:INGRFree Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,144 shares of the company’s stock after selling 4,058 shares during the quarter. Raymond James & Associates owned 0.28% of Ingredion worth $20,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. West Tower Group LLC acquired a new stake in shares of Ingredion in the 2nd quarter worth approximately $26,000. Quarry LP acquired a new stake in Ingredion in the second quarter valued at $30,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after buying an additional 147 shares in the last quarter. Allworth Financial LP raised its stake in shares of Ingredion by 414.1% during the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after buying an additional 323 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Ingredion by 33.7% in the 3rd quarter. IFP Advisors Inc now owns 484 shares of the company’s stock worth $48,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Performance

NYSE INGR opened at $116.85 on Monday. The business’s 50-day moving average price is $113.77 and its 200 day moving average price is $105.91. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $118.83. The company has a market capitalization of $7.67 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.10 and a beta of 0.81.

Ingredion (NYSE:INGRGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.10. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the firm posted $1.65 EPS. The company’s revenue was down 3.3% on a year-over-year basis. On average, research analysts predict that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Monday, April 1st will be issued a $0.78 dividend. The ex-dividend date is Thursday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.67%. Ingredion’s payout ratio is 32.50%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stephens restated an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. Barclays upped their target price on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and upped their price objective for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.67.

Check Out Our Latest Analysis on Ingredion

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now owns 28,966 shares in the company, valued at approximately $3,333,407.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at approximately $11,635,601.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the sale, the senior vice president now owns 28,966 shares in the company, valued at approximately $3,333,407.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,921 shares of company stock valued at $6,903,037. Company insiders own 1.68% of the company’s stock.

About Ingredion

(Free Report)

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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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