Guggenheim Capital LLC Has $6.64 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Guggenheim Capital LLC cut its position in shares of Ingredion Incorporated (NYSE:INGR) by 73.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 48,235 shares of the company’s stock after selling 136,655 shares during the quarter. Guggenheim Capital LLC’s holdings in Ingredion were worth $6,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of INGR. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Ingredion by 1.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after purchasing an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after purchasing an additional 79 shares during the last quarter. Mindset Wealth Management LLC lifted its stake in shares of Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after acquiring an additional 82 shares during the period. Transcend Capital Advisors LLC boosted its stake in shares of Ingredion by 2.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after purchasing an additional 90 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Ingredion by 1.3% during the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other 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 transaction of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Ingredion Trading Up 1.2 %

Shares of NYSE:INGR opened at $129.59 on Friday. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.03 and a beta of 0.72. Ingredion Incorporated has a 12 month low of $111.49 and a 12 month high of $155.44. The company’s fifty day simple moving average is $130.48 and its 200 day simple moving average is $135.82. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is currently 32.96%.

Analyst Ratings Changes

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

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.