34,088 Shares in Ingredion Incorporated (NYSE:INGR) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in Ingredion Incorporated (NYSE:INGR) in the fourth quarter, HoldingsChannel reports. The fund acquired 34,088 shares of the company’s stock, valued at approximately $3,700,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quarry LP bought a new position in Ingredion in the second quarter worth about $30,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Ingredion by 63.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after acquiring an additional 147 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Ingredion by 414.1% during the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $39,000 after acquiring an additional 323 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after acquiring an additional 103 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Ingredion by 33.7% during the third quarter. IFP Advisors Inc now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 122 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $6,399,076.44. Following the transaction, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction of $6,399,076.44. Following the transaction, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Larry Fernandes sold 2,369 shares of the 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 transaction, 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 worth $6,903,045. Corporate insiders own 1.80% of the company’s stock.

Ingredion Trading Down 0.2 %

Ingredion stock opened at $111.30 on Thursday. 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 stock’s 50 day simple moving average is $114.75 and its two-hundred day simple moving average is $107.13. The firm has a market cap of $7.30 billion, a PE ratio of 11.62, a P/E/G 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, 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 business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.80%. Ingredion’s dividend payout ratio is presently 32.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and upped their target price for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. Finally, Barclays upped their target price on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Two investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.67.

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.