Ingredion Incorporated (NYSE:INGR) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,865 shares of the company’s stock after acquiring an additional 440 shares during the period. Park Avenue Securities LLC’s holdings in Ingredion were worth $532,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion during the second quarter valued at approximately $33,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion during the 3rd quarter worth approximately $41,000. Versant Capital Management Inc increased its holdings 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 acquired a new position in shares of Ingredion in the 2nd quarter valued at $56,000. Finally, Concord Wealth Partners boosted its holdings in Ingredion by 82.6% during 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 owned by hedge funds and other institutional investors.

Ingredion Stock Up 1.0 %

Shares of INGR opened at $136.79 on Friday. The stock has a 50 day moving average price of $140.51 and a 200 day moving average price of $134.73. 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 stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.11 and a beta of 0.75. Ingredion Incorporated has a one year low of $107.20 and a one year high of $155.44.

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

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

Analysts Set New Price Targets

A number of research firms have weighed in on INGR. UBS Group lifted their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Stephens raised Ingredion to a “hold” rating in a report on Monday, December 2nd. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price target 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 price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average price target of $155.17.

Insider Buying and Selling at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,692 shares of company stock worth $9,634,868 in the last three months. 1.80% of the stock is owned by corporate 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.