Centric Wealth Management Increases Stock Position in Ingredion Incorporated (NYSE:INGR)

Centric Wealth Management boosted its holdings in Ingredion Incorporated (NYSE:INGR) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,083 shares of the company’s stock after acquiring an additional 272 shares during the quarter. Centric Wealth Management’s holdings in Ingredion were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Ingredion during the 4th quarter valued at $96,012,000. Assetmark Inc. grew its holdings in Ingredion by 38,341.7% during the 4th quarter. Assetmark Inc. now owns 509,352 shares of the company’s stock valued at $70,067,000 after buying an additional 508,027 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Ingredion during the fourth quarter valued at about $58,642,000. Prudential Financial Inc. lifted its holdings in shares of Ingredion by 93.2% in the fourth quarter. Prudential Financial Inc. now owns 652,734 shares of the company’s stock worth $89,790,000 after buying an additional 314,912 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after acquiring an additional 268,389 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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. The trade was a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on INGR. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Oppenheimer lowered their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets dropped their price objective 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. Finally, Stephens lowered their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and a consensus target price of $158.20.

Ingredion Trading Up 0.2 %

Shares of INGR stock opened at $135.22 on Tuesday. The business has a 50-day moving average price of $131.59 and a two-hundred day moving average price of $136.48. Ingredion Incorporated has a 12-month low of $109.51 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 firm has a market cap of $8.68 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.09. The business had revenue of $1.80 billion during 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%. Ingredion’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Equities analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. Ingredion’s dividend payout ratio is currently 32.96%.

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.