Strs Ohio Decreases Position in Ingredion Incorporated (NYSE:INGR)

Strs Ohio lowered its stake in shares of Ingredion Incorporated (NYSE:INGR) by 85.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,370 shares of the company’s stock after selling 143,319 shares during the period. Strs Ohio’s holdings in Ingredion were worth $2,753,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of INGR. Quarry LP purchased a new stake in shares of Ingredion during the 2nd quarter worth approximately $30,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Ingredion by 63.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after buying an additional 147 shares during the period. Allworth Financial LP boosted its holdings in Ingredion by 414.1% in 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 period. Blue Trust Inc. boosted its holdings in Ingredion by 40.2% in the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after buying an additional 103 shares during the period. Finally, IFP Advisors Inc boosted 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 buying an additional 122 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INGR. Barclays raised their price objective on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a report on Wednesday, February 7th. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $135.00 in a report on Thursday, February 15th. Finally, StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Two 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.67.

Insider Activity

In other 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 sale, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction on Monday, March 4th. The shares were sold at an average price of $117.24, for a total value 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 filing with the SEC, which is available through the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction 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 completion of the transaction, the vice president now 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 quarter, insiders have sold 58,921 shares of company stock worth $6,903,045. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Up 1.0 %

Shares of NYSE:INGR opened at $112.36 on Friday. The firm has a fifty day moving average price of $114.82 and a two-hundred day moving average price of $107.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. Ingredion Incorporated has a one year low of $89.54 and a one year high of $118.83. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.05 and a beta of 0.81.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. Analysts anticipate that Ingredion Incorporated will post 9.62 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is currently 32.50%.

Ingredion Company 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.