Zurcher Kantonalbank Zurich Cantonalbank Has $1.76 Million Stake in Ingredion Incorporated (NYSE:INGR)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ingredion Incorporated (NYSE:INGR) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,190 shares of the company’s stock after acquiring an additional 2,094 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ingredion were worth $1,757,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new stake in Ingredion in the fourth quarter valued at $1,553,000. Vontobel Holding Ltd. grew its position in Ingredion by 92.4% in the fourth quarter. Vontobel Holding Ltd. now owns 8,851 shares of the company’s stock valued at $961,000 after acquiring an additional 4,251 shares during the period. Louisiana State Employees Retirement System bought a new stake in Ingredion in the fourth quarter valued at $1,986,000. Smith Graham & Co. Investment Advisors LP grew its position in Ingredion by 14.3% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 35,101 shares of the company’s stock valued at $3,810,000 after acquiring an additional 4,390 shares during the period. Finally, Perigon Wealth Management LLC bought a new stake in Ingredion in the fourth quarter valued at $202,000. 85.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total transaction of $272,624.52. Following the transaction, the senior vice president now owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Tuesday, February 20th. The stock was 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 of the company’s stock, valued at $3,333,407.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the transaction, 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. Insiders have sold 58,921 shares of company stock valued at $6,903,045 over the last 90 days. 1.80% of the stock is owned by company insiders.

Ingredion Trading Up 0.7 %

Shares of INGR opened at $115.10 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.92 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 $7.55 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81. The stock’s fifty day simple moving average is $115.24 and its 200-day simple moving average is $107.80.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, beating 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 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, research analysts predict that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is presently 32.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stephens reiterated an “overweight” rating and issued a $130.00 price target on shares of Ingredion in a research report on Wednesday, February 7th. The Goldman Sachs Group upgraded 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 report on Thursday, February 15th. Barclays increased their target price on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Finally, StockNews.com upgraded 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average price target of $126.67.

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.