Federated Hermes Inc. Has $2.41 Million Stake in Ingredion Incorporated (NYSE:INGR)

Federated Hermes Inc. raised its stake in Ingredion Incorporated (NYSE:INGR) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,228 shares of the company’s stock after buying an additional 235 shares during the quarter. Federated Hermes Inc.’s holdings in Ingredion were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cutter & CO Brokerage Inc. raised its position in shares of 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 purchasing an additional 990 shares during the period. Schroder Investment Management Group raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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. raised its position in Ingredion by 10.9% in the 3rd quarter. Horizon Family Wealth Inc. now owns 2,647 shares of the company’s stock valued at $260,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. Barclays lifted 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. Finally, The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and lifted their target price for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Two investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.67.

Ingredion Stock Down 1.0 %

INGR stock opened at $113.29 on Monday. 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 twelve month low of $89.54 and a twelve month high of $118.83. The business has a 50 day moving average price of $115.22 and a two-hundred day moving average price of $108.16. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.07 and a beta of 0.81.

Ingredion (NYSE:INGR) last issued its earnings results 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 company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 9.62 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were paid a $0.78 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.75%. Ingredion’s dividend payout ratio (DPR) is presently 32.50%.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value 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 approximately $3,333,407.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingredion news, 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 value of $231,003.84. Following the completion of the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The disclosure for this sale can be found here. Insiders sold 58,921 shares of company stock worth $6,903,045 in the last ninety days. 1.80% of the stock is owned by company insiders.

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.