HB Wealth Management LLC Sells 612 Shares of Ingredion Incorporated (NYSE:INGR)

HB Wealth Management LLC lowered its stake in shares of Ingredion Incorporated (NYSE:INGR) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,601 shares of the company’s stock after selling 612 shares during the period. HB Wealth Management LLC’s holdings in Ingredion were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of INGR. Renaissance Technologies LLC lifted its stake in shares of Ingredion by 154.0% during the 2nd quarter. Renaissance Technologies LLC now owns 41,405 shares of the company’s stock worth $4,749,000 after purchasing an additional 25,105 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Ingredion by 191.0% during the second quarter. Hsbc Holdings PLC now owns 19,970 shares of the company’s stock valued at $2,292,000 after buying an additional 13,108 shares during the last quarter. Sei Investments Co. grew its position in shares of Ingredion by 30.8% in the 2nd quarter. Sei Investments Co. now owns 148,950 shares of the company’s stock worth $17,084,000 after buying an additional 35,074 shares during the last quarter. Point72 DIFC Ltd raised its stake in shares of Ingredion by 2,629.3% during the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after acquiring an additional 3,681 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Ingredion by 154.5% during the second quarter. Cubist Systematic Strategies LLC now owns 49,975 shares of the company’s stock valued at $5,732,000 after acquiring an additional 30,339 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INGR shares. Stephens raised Ingredion to a “hold” rating in a research report on Monday, December 2nd. UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets raised 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Stock Performance

INGR opened at $135.60 on Friday. The firm has a 50 day moving average of $140.16 and a two-hundred day moving average of $134.90. The firm has a market capitalization of $8.84 billion, a PE ratio of 13.23, a P/E/G ratio of 1.10 and a beta of 0.75. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12-month low of $107.37 and a 12-month high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion during 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 firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. On average, analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, January 2nd. Ingredion’s payout ratio is presently 31.22%.

Insiders Place Their Bets

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 transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, the chief financial officer now owns 12,795 shares of the company’s stock, 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. In the last 90 days, insiders have sold 65,692 shares of company stock worth $9,634,868. Corporate insiders own 1.80% of the company’s stock.

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.