Gotham Asset Management LLC Boosts Stock Position in Ingredion Incorporated (NYSE:INGR)

Gotham Asset Management LLC raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,588 shares of the company’s stock after buying an additional 17,378 shares during the quarter. Gotham Asset Management LLC owned about 0.19% of Ingredion worth $16,726,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Focus Partners Wealth purchased a new stake in Ingredion during the fourth quarter valued at approximately $474,000. Ensign Peak Advisors Inc lifted its holdings in shares of Ingredion by 3.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 103,349 shares of the company’s stock valued at $14,217,000 after purchasing an additional 3,786 shares during the last quarter. Ethic Inc. lifted its holdings in shares of Ingredion by 32.7% during the 4th quarter. Ethic Inc. now owns 15,101 shares of the company’s stock valued at $2,077,000 after purchasing an additional 3,720 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Ingredion by 127.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 14,794 shares of the company’s stock worth $2,035,000 after purchasing an additional 8,280 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Ingredion by 2.0% during the 4th quarter. Deutsche Bank AG now owns 26,575 shares of the company’s stock worth $3,656,000 after buying an additional 509 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INGR has been the subject of several recent analyst reports. Stephens lowered their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets lowered 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. UBS Group set a $155.00 price target on shares of Ingredion in a research note on Tuesday, April 22nd. Oppenheimer lowered their price objective on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $152.20.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction that occurred on 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 of the company’s stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the sale, the senior vice president now owns 31,996 shares in the company, valued at approximately $4,345,696.72. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,215 shares of company stock worth $1,687,360. 2.30% of the stock is owned by corporate insiders.

Ingredion Stock Performance

Shares of NYSE INGR opened at $137.05 on Friday. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The company has a 50 day simple moving average of $131.72 and a two-hundred day simple moving average of $135.59. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 earnings per share. As a group, analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, April 1st. Ingredion’s dividend payout ratio is currently 33.76%.

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.