Envestnet Asset Management Inc. Sells 134 Shares of Ingredion Incorporated (NYSE:INGR)

Envestnet Asset Management Inc. cut its stake in shares of Ingredion Incorporated (NYSE:INGR) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,350 shares of the company’s stock after selling 134 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of Ingredion worth $26,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Ingredion by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company’s stock valued at $98,347,000 after buying an additional 45,631 shares in the last quarter. World Investment Advisors purchased a new stake in shares of Ingredion in the first quarter valued at about $214,000. Impax Asset Management Group plc bought a new position in shares of Ingredion during the first quarter valued at about $646,000. OneDigital Investment Advisors LLC boosted its holdings in Ingredion by 20.1% during the first quarter. OneDigital Investment Advisors LLC now owns 3,718 shares of the company’s stock worth $503,000 after purchasing an additional 623 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in Ingredion by 1.6% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 372,958 shares of the company’s stock worth $50,428,000 after purchasing an additional 6,023 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on INGR shares. UBS Group boosted their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Oppenheimer reduced their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 8th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $151.40.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president owned 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. The trade was a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.3%

Shares of Ingredion stock opened at $136.11 on Tuesday. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.09 and a beta of 0.72. The company’s 50 day moving average price is $137.51 and its 200-day moving average price is $133.75. Ingredion Incorporated has a 52-week low of $113.94 and a 52-week high of $155.44. 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 (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 net margin of 8.53% and a return on equity of 19.75%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently announced 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 2.35%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion’s dividend payout ratio (DPR) is 33.76%.

Ingredion 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.