Brown Advisory Inc. Acquires 180 Shares of Ingredion Incorporated (NYSE:INGR)

Brown Advisory Inc. increased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 8.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,318 shares of the company’s stock after buying an additional 180 shares during the period. Brown Advisory Inc.’s holdings in Ingredion were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of INGR. EverSource Wealth Advisors LLC increased its stake in Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares in the last quarter. Mindset Wealth Management LLC boosted its holdings in shares of Ingredion by 2.1% in the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after buying an additional 82 shares during the period. Waverly Advisors LLC boosted its holdings in shares of Ingredion by 3.8% in the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company’s stock valued at $317,000 after buying an additional 84 shares during the period. Retirement Guys Formula LLC boosted its holdings in shares of Ingredion by 5.7% in the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company’s stock valued at $212,000 after buying an additional 84 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in shares of Ingredion by 1.6% in the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 108 shares during the period. 85.27% of the stock is owned by institutional investors.

Insider Activity

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

Ingredion Trading Down 1.3%

Shares of Ingredion stock opened at $134.39 on Wednesday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.09 and a beta of 0.72. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12-month low of $114.03 and a 12-month high of $155.44. The firm’s 50-day moving average price is $137.49 and its two-hundred day moving average price is $133.74.

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

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.38%. Ingredion’s payout ratio is 33.76%.

Analyst Ratings Changes

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

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.