Ingredion Incorporated (NYSE:INGR) Stake Reduced by LSV Asset Management

LSV Asset Management decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,028,431 shares of the company’s stock after selling 21,818 shares during the quarter. LSV Asset Management owned 3.15% of Ingredion worth $274,264,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of INGR. Alpine Bank Wealth Management acquired a new stake in shares of Ingredion in the first quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after buying an additional 196 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Ingredion in the first quarter valued at $32,000. Ameriflex Group Inc. acquired a new stake in shares of Ingredion in the fourth quarter valued at $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after buying an additional 80 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of INGR stock opened at $126.40 on Friday. The stock has a 50 day moving average of $136.12 and a two-hundred day moving average of $133.58. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12 month low of $118.85 and a 12 month high of $155.44. The company has a market capitalization of $8.13 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.05 and a beta of 0.71.

Ingredion (NYSE:INGR) last posted its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. Ingredion’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $2.87 EPS. As a group, equities analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Ingredion’s payout ratio is presently 33.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group upped their target price on Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. Wall Street Zen raised Ingredion from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 8th. Finally, Oppenheimer reduced their target price on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and a consensus target price of $151.40.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the sale, the senior vice president directly owned 31,996 shares of the company’s stock, valued at $4,345,696.72. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by 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.