Farther Finance Advisors LLC Acquires 247 Shares of Ingredion Incorporated (NYSE:INGR)

Farther Finance Advisors LLC lifted its position in Ingredion Incorporated (NYSE:INGR) by 32.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,006 shares of the company’s stock after acquiring an additional 247 shares during the period. Farther Finance Advisors LLC’s holdings in Ingredion were worth $137,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc grew its stake in shares of Ingredion by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 2,074 shares of the company’s stock valued at $285,000 after buying an additional 106 shares in the last quarter. Truist Financial Corp raised its stake in Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after purchasing an additional 90 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Ingredion by 110.5% in the fourth quarter. Venturi Wealth Management LLC now owns 644 shares of the company’s stock valued at $89,000 after purchasing an additional 338 shares in the last quarter. ING Groep NV acquired a new position in Ingredion during the fourth quarter worth about $1,004,000. Finally, Allianz Asset Management GmbH raised its stake in Ingredion by 11.9% during the fourth quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock worth $115,930,000 after acquiring an additional 89,335 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Price Performance

INGR opened at $137.26 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.86 and a current ratio of 2.85. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44. The stock has a market capitalization of $8.83 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.10 and a beta of 0.73. The stock’s 50 day moving average price is $135.54 and its 200-day moving average price is $134.57.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, July 1st. Ingredion’s payout ratio is 33.76%.

Analysts Set New Price Targets

INGR has been the topic of several analyst reports. Oppenheimer reduced their target price on Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 8th. Finally, UBS Group set a $155.00 price target on Ingredion in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $152.20.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the sale, the senior vice president now directly owns 31,996 shares in the company, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

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.