Ingredion Incorporated (NYSE:INGR) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,399 shares of the company’s stock after acquiring an additional 1,254 shares during the period. Sterling Capital Management LLC’s holdings in Ingredion were worth $1,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of INGR. BOK Financial Private Wealth Inc. purchased a new position in shares of Ingredion during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Ingredion during the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after buying an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after buying an additional 79 shares during the period. Finally, Crews Bank & Trust purchased a new stake in shares of Ingredion in the fourth quarter worth about $48,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Ingredion Stock Performance

NYSE:INGR opened at $129.88 on Monday. The company has a fifty day moving average of $130.28 and a two-hundred day moving average of $136.01. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. The stock has a market capitalization of $8.34 billion, a PE ratio of 13.38, a P/E/G ratio of 1.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62.

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

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s payout ratio is 32.96%.

Analysts Set New Price Targets

INGR has been the subject of a number of analyst reports. Oppenheimer decreased their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets decreased their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Stephens dropped their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. UBS Group reiterated a “neutral” rating and issued a $145.00 price objective (down previously from $165.00) on shares of Ingredion in a research report on Monday, April 7th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.60.

Ingredion Company 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.