Quantinno Capital Management LP Acquires 25,789 Shares of Ingredion Incorporated (NYSE:INGR)

Quantinno Capital Management LP grew its holdings in Ingredion Incorporated (NYSE:INGR) by 90.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,406 shares of the company’s stock after acquiring an additional 25,789 shares during the quarter. Quantinno Capital Management LP owned 0.08% of Ingredion worth $7,484,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Nomura Holdings Inc. bought a new stake in Ingredion during the fourth quarter worth about $10,583,000. NDVR Inc. bought a new stake in Ingredion during the fourth quarter worth about $226,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ingredion by 502.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,254 shares of the company’s stock worth $310,000 after purchasing an additional 1,880 shares during the period. Lazard Asset Management LLC lifted its position in Ingredion by 31.0% during the fourth quarter. Lazard Asset Management LLC now owns 40,611 shares of the company’s stock worth $5,586,000 after purchasing an additional 9,612 shares during the period. Finally, Jefferies Financial Group Inc. lifted its position in Ingredion by 346.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 9,599 shares of the company’s stock worth $1,320,000 after purchasing an additional 7,448 shares during the period. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on INGR. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group set a $155.00 target price on shares of Ingredion in a report on Tuesday, April 22nd. Stephens dropped their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Oppenheimer dropped their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.20.

Ingredion Stock Performance

Ingredion stock opened at $138.75 on Friday. The business has a 50 day moving average of $132.05 and a 200-day moving average of $135.65. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company has a market capitalization of $8.92 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.03 and a beta of 0.73.

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

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, April 1st. Ingredion’s dividend payout ratio is currently 33.76%.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the 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 sale, the chief executive officer now owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This represents a 24.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 2,400 shares of the 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 sale, the senior vice president now directly owns 31,996 shares of the company’s stock, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,215 shares of company stock valued at $1,687,360 over the last quarter. 2.30% 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.