Retirement Systems of Alabama Sells 933 Shares of Ingredion Incorporated (NYSE:INGR)

Retirement Systems of Alabama lessened its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,149 shares of the company’s stock after selling 933 shares during the quarter. Retirement Systems of Alabama owned 0.24% of Ingredion worth $17,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nordea Investment Management AB grew its stake in shares of Ingredion by 73.0% in the 3rd quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after acquiring an additional 317,509 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ingredion by 74.6% in the 3rd quarter. Invesco Ltd. now owns 540,388 shares of the company’s stock worth $53,174,000 after acquiring an additional 230,885 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Ingredion by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,345,630 shares of the company’s stock worth $722,810,000 after acquiring an additional 161,922 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Ingredion by 833.7% in the 3rd quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock worth $13,442,000 after acquiring an additional 121,976 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in shares of Ingredion in the 3rd quarter worth $7,889,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the transaction, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the transaction, the vice president now directly owns 1,723 shares in the company, valued at $202,245.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the transaction, the senior vice president now owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The disclosure for this sale can be found here. Insiders have sold 58,921 shares of company stock worth $6,903,045 over the last ninety days. Insiders own 1.80% of the company’s stock.

Ingredion Price Performance

NYSE INGR opened at $114.59 on Wednesday. The company has a market cap of $7.52 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $118.83. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $115.21 and its two-hundred day simple moving average is $108.49.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Research analysts predict that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is 32.50%.

Analyst Upgrades and Downgrades

INGR has been the subject of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a research note on Wednesday, February 7th. Barclays boosted their price target on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Finally, The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $135.00 in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.67.

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.