Fulton Bank N.A. Sells 271 Shares of Ingredion Incorporated (NYSE:INGR)

Fulton Bank N.A. lowered its stake in Ingredion Incorporated (NYSE:INGR) by 10.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,435 shares of the company’s stock after selling 271 shares during the quarter. Fulton Bank N.A.’s holdings in Ingredion were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INGR. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion during the second quarter valued at approximately $33,000. Prospera Private Wealth LLC bought a new position in Ingredion in the 3rd quarter valued at $41,000. Versant Capital Management Inc grew its position in shares of Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Ingredion in the second quarter worth $56,000. Finally, Concord Wealth Partners raised its position in shares of Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after buying an additional 223 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Price Performance

INGR stock opened at $130.62 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The firm has a market cap of $8.51 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.24 and a beta of 0.75. The firm’s fifty day moving average is $142.84 and its 200 day moving average is $133.44. Ingredion Incorporated has a 52 week low of $107.20 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Research analysts predict that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion’s dividend payout ratio is 31.22%.

Wall Street Analyst Weigh In

Several analysts have weighed in on INGR shares. Stephens raised Ingredion to a “hold” rating in a report on Monday, December 2nd. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group increased their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets lifted their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Finally, Oppenheimer increased their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.17.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,692 shares of company stock valued at $9,634,868 over the last three months. 1.80% of the stock is owned by company insiders.

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.