Allspring Global Investments Holdings LLC Grows Holdings in Ingredion Incorporated (NYSE:INGR)

Allspring Global Investments Holdings LLC raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,628 shares of the company’s stock after purchasing an additional 1,594 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ingredion were worth $15,154,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in shares of Ingredion during the 2nd quarter valued at $30,000. Cary Street Partners Investment Advisory LLC boosted its stake 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 worth $37,000 after acquiring an additional 147 shares during the period. Allworth Financial LP grew its position in shares of Ingredion by 414.1% during the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after purchasing an additional 323 shares in the last quarter. Blue Trust Inc. raised its stake in Ingredion by 40.2% during the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after purchasing an additional 103 shares during the period. Finally, IFP Advisors Inc lifted its holdings in Ingredion by 33.7% in the 3rd quarter. IFP Advisors Inc now owns 484 shares of the company’s stock worth $48,000 after purchasing an additional 122 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the sale, the vice president now owns 1,723 shares of the company’s stock, valued at $202,245.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $117.38, for a total transaction of $231,003.84. Following the transaction, the vice president now owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 54,581 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the sale, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The disclosure for this sale can be found here. Insiders sold a total of 58,921 shares of company stock worth $6,903,045 over the last three months. 1.68% of the stock is owned by insiders.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $110.13 on Tuesday. The firm has a fifty day simple moving average of $114.73 and a two-hundred day simple moving average of $106.95. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $118.83. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $7.23 billion, a P/E ratio of 11.47, a PEG ratio of 1.04 and a beta of 0.81.

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

Ingredion Dividend Announcement

The business 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 dividend of $0.78 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.83%. Ingredion’s payout ratio is presently 32.50%.

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.