Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,161 shares of the company’s stock after selling 3,343 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ingredion were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INGR. BOK Financial Private Wealth Inc. purchased a new position in shares of Ingredion during the 4th quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion during the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of Ingredion during the 4th quarter valued at $48,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Ingredion during the 4th quarter worth $55,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INGR shares. Stephens lowered their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Oppenheimer dropped their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets reduced their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average target price of $158.20.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Ingredion Stock Up 0.2 %

Shares of NYSE:INGR opened at $135.22 on Tuesday. The company has a 50 day moving average of $131.59 and a two-hundred day moving average of $136.48. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business earned $1.65 EPS. The business’s revenue was down 6.3% on a year-over-year basis. As a group, analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is 32.96%.

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.