Mutual of America Capital Management LLC Decreases Holdings in Ingredion Incorporated (NYSE:INGR)

Mutual of America Capital Management LLC lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,301 shares of the company’s stock after selling 2,697 shares during the period. Mutual of America Capital Management LLC’s holdings in Ingredion were worth $4,374,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. increased its holdings in Ingredion by 2.9% during the third quarter. Cutter & CO Brokerage Inc. now owns 34,577 shares of the company’s stock worth $3,402,000 after buying an additional 990 shares during the last quarter. Schroder Investment Management Group boosted its position in Ingredion by 833.7% during the third quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock worth $13,442,000 after purchasing an additional 121,976 shares during the period. Equity Investment Corp boosted its position in Ingredion by 1.4% during the third quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock worth $89,424,000 after purchasing an additional 12,427 shares during the period. Nordea Investment Management AB boosted its position in Ingredion by 73.0% during the third quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after purchasing an additional 317,509 shares during the period. Finally, Horizon Family Wealth Inc. boosted its position in Ingredion by 10.9% during the third quarter. Horizon Family Wealth Inc. now owns 2,647 shares of the company’s stock worth $260,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INGR. The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and increased their target price for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, Barclays increased their target price on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.67.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the sale, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the sale, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of Ingredion 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 directly owns 1,723 shares in the company, valued at $202,245.74. 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 Price Performance

INGR stock opened at $110.13 on Tuesday. The firm has a 50 day moving average of $114.73 and a 200-day moving average of $106.95. 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 12 month low of $89.54 and a 12 month high of $118.83. The firm has a market capitalization of $7.23 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.04 and a beta of 0.81.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business earned $1.65 earnings per share. Ingredion’s revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st will be given a dividend of $0.78 per share. The ex-dividend date of this dividend 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%.

About Ingredion

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.