Keystone Financial Services Reduces Stock Position in Ingredion Incorporated (NYSE:INGR)

Keystone Financial Services cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,169 shares of the company’s stock after selling 222 shares during the quarter. Keystone Financial Services’ holdings in Ingredion were worth $293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BOK Financial Private Wealth Inc. bought a new stake in shares of Ingredion in the 4th quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Ingredion in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased 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 acquiring an additional 79 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Ingredion in the 4th quarter valued at approximately $55,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INGR. Oppenheimer lowered their price target on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. UBS Group set a $155.00 price objective on Ingredion in a research note on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $152.20.

Ingredion Trading Up 1.5%

Shares of INGR stock opened at $139.38 on Tuesday. 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 Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The stock has a fifty day moving average of $135.85 and a two-hundred day moving average of $134.25. The firm has a market capitalization of $8.96 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.10 and a beta of 0.73.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.30%. Ingredion’s dividend payout ratio (DPR) is 33.76%.

Insider Activity

In other news, SVP Larry Fernandes sold 2,400 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 31,996 shares in the company, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

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.