Louisiana State Employees Retirement System Invests $1.99 Million in Ingredion Incorporated (NYSE:INGR)

Louisiana State Employees Retirement System bought a new position in Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,300 shares of the company’s stock, valued at approximately $1,986,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Ingredion in the 2nd quarter worth approximately $30,000. Aspire Private Capital LLC boosted its position in Ingredion by 172.3% during the 4th quarter. Aspire Private Capital LLC now owns 354 shares of the company’s stock valued at $34,667,220,000 after purchasing an additional 224 shares during the period. Blue Trust Inc. boosted its position 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. Cary Street Partners Investment Advisory LLC boosted its position in Ingredion by 63.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after purchasing an additional 147 shares during the period. Finally, Allworth Financial LP boosted its position in Ingredion by 414.1% during the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $39,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research report 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 price objective 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 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 stock. According to data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.67.

Ingredion Stock Down 0.2 %

Shares of Ingredion stock opened at $111.30 on Thursday. The business’s fifty day moving average price is $114.75 and its two-hundred day moving average price is $107.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. The company has a market capitalization of $7.30 billion, a P/E ratio of 11.59, a PEG ratio of 1.04 and a beta of 0.81. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $118.83.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. As a group, research analysts forecast that Ingredion Incorporated will post 9.62 EPS for the current year.

Ingredion Announces Dividend

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

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 54,581 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 99,246 shares of the company’s stock, valued at approximately $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James P. Zallie sold 54,581 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 99,246 shares of the company’s stock, valued at approximately $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Davida Marie Gable sold 1,968 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the sale, the vice president now directly owns 1,723 shares in the company, valued at approximately $202,245.74. 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 $6,903,045. Corporate insiders own 1.80% of the company’s stock.

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.