Ingredion Incorporated (NYSE:INGR) Position Trimmed by Naples Global Advisors LLC

Naples Global Advisors LLC lowered its stake in Ingredion Incorporated (NYSE:INGR) by 6.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,713 shares of the company’s stock after selling 1,425 shares during the period. Naples Global Advisors LLC’s holdings in Ingredion were worth $2,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of Ingredion by 4.4% in the 4th quarter. Van ECK Associates Corp now owns 163,575 shares of the company’s stock worth $22,501,000 after acquiring an additional 6,845 shares during the last quarter. Retirement Guys Formula LLC acquired a new stake in Ingredion during the 4th quarter worth about $204,000. TFB Advisors LLC purchased a new stake in Ingredion during the fourth quarter valued at about $477,000. Louisiana State Employees Retirement System boosted its holdings in shares of Ingredion by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock worth $2,490,000 after buying an additional 100 shares during the period. Finally, Quent Capital LLC boosted its holdings in shares of Ingredion by 22.4% in the fourth quarter. Quent Capital LLC now owns 776 shares of the company’s stock worth $107,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Down 0.6 %

Ingredion stock opened at $127.88 on Thursday. Ingredion Incorporated has a 12 month low of $107.91 and a 12 month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.33 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.04 and a beta of 0.74. The company’s fifty day simple moving average is $136.80 and its 200-day simple moving average is $136.39.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. As a group, sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Insiders Place Their Bets

In other news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,992 shares of company stock valued at $8,913,841 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on INGR shares. BMO Capital Markets reduced their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. UBS Group increased their target price on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Oppenheimer dropped their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Stephens decreased their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.33.

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.