Ingredion Incorporated (NYSE:INGR) Stock Position Cut by Liberty One Investment Management LLC

Liberty One Investment Management LLC lessened its stake in Ingredion Incorporated (NYSE:INGR) by 1.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,832 shares of the company’s stock after selling 93 shares during the period. Liberty One Investment Management LLC’s holdings in Ingredion were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INGR. BOK Financial Private Wealth Inc. bought a new position in shares of Ingredion during the 4th quarter valued at about $25,000. Alpine Bank Wealth Management bought a new position in shares of Ingredion during the 1st quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 purchasing an additional 196 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Ingredion during the 4th quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on INGR. Oppenheimer reduced 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. Wall Street Zen raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. Finally, UBS Group set a $155.00 price objective on shares of Ingredion in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.20.

Ingredion Price Performance

INGR stock opened at $136.26 on Tuesday. The firm has a 50-day moving average of $137.18 and a two-hundred day moving average of $133.83. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $8.76 billion, a PE ratio of 14.37, a P/E/G ratio of 1.11 and a beta of 0.72. Ingredion Incorporated has a one year low of $111.93 and a one year high of $155.44.

Ingredion (NYSE:INGR) last posted 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. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Tuesday, July 1st. Ingredion’s dividend payout ratio (DPR) is 33.76%.

Insider Activity

In related news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president owned 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

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.