3,923 Shares in Ingredion Incorporated (NYSE:INGR) Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC bought a new position in Ingredion Incorporated (NYSE:INGR) during the fourth quarter, Holdings Channel reports. The fund bought 3,923 shares of the company’s stock, valued at approximately $426,000.

A number of other hedge funds have also modified their holdings of INGR. Van ECK Associates Corp grew its holdings in shares of Ingredion by 55.6% during the fourth quarter. Van ECK Associates Corp now owns 55,511 shares of the company’s stock valued at $6,024,000 after buying an additional 19,826 shares in the last quarter. IVY Lane Capital Management LLC grew its stake in Ingredion by 44.0% in the fourth quarter. IVY Lane Capital Management LLC now owns 72,000 shares of the company’s stock valued at $7,814,000 after purchasing an additional 22,000 shares in the last quarter. Paradiem LLC grew its stake in Ingredion by 64.2% in the fourth quarter. Paradiem LLC now owns 73,190 shares of the company’s stock valued at $7,943,000 after purchasing an additional 28,617 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Ingredion by 15.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 64,781 shares of the company’s stock valued at $7,031,000 after purchasing an additional 8,876 shares in the last quarter. Finally, Foster & Motley Inc. lifted its position in shares of Ingredion by 45.2% in the fourth quarter. Foster & Motley Inc. now owns 8,047 shares of the company’s stock worth $873,000 after buying an additional 2,506 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. Barclays boosted their price objective on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research report on Wednesday, February 7th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.67.

Insider Buying and Selling

In other Ingredion 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 approximately $3,333,407.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Davida Marie Gable sold 1,968 shares of the 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 transaction, the vice president now owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of the 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 in the company, valued at approximately $3,333,407.28. The disclosure for this sale can be found here. Insiders have sold a total of 58,921 shares of company stock worth $6,903,045 in the last three months. Insiders own 1.80% of the company’s stock.

Ingredion Trading Up 0.7 %

INGR stock opened at $115.37 on Tuesday. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $118.83. The firm has a market cap of $7.57 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.08 and a beta of 0.81. The business’s 50 day moving average is $115.21 and its 200-day moving average is $109.13. 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 (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.07 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. Ingredion’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. Equities analysts anticipate that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.70%. Ingredion’s dividend payout ratio (DPR) is presently 32.50%.

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.