NewEdge Wealth LLC reduced its stake in shares of Ingredion Incorporated (NYSE:INGR – Free Report) by 93.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,007 shares of the company’s stock after selling 165,199 shares during the quarter. NewEdge Wealth LLC’s holdings in Ingredion were worth $1,324,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Drucker Wealth 3.0 LLC bought a new position in Ingredion in the 4th quarter valued at about $203,000. Virtus Family Office LLC bought a new stake in shares of Ingredion during the 4th quarter worth about $891,000. International Assets Investment Management LLC bought a new stake in shares of Ingredion during the 4th quarter worth about $30,000. Coston McIsaac & Partners lifted its stake in shares of Ingredion by 5.0% in the 4th quarter. Coston McIsaac & Partners now owns 51,904 shares of the company’s stock worth $5,722,000 after acquiring an additional 2,464 shares during the period. Finally, Crestwood Advisors Group LLC bought a new position in shares of Ingredion in the fourth quarter valued at approximately $284,000. Institutional investors and hedge funds own 85.27% of the company’s stock.
Ingredion Stock Performance
Shares of INGR opened at $106.08 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.76 and a quick ratio of 1.83. The firm’s 50 day moving average is $111.86 and its 200-day moving average is $112.50. Ingredion Incorporated has a 12-month low of $100.71 and a 12-month high of $141.78. The stock has a market capitalization of $6.69 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.86 and a beta of 0.64.
Ingredion Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Wednesday, April 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, April 1st. Ingredion’s dividend payout ratio is 31.60%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Oppenheimer lowered their price objective on shares of Ingredion from $130.00 to $126.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Stephens restated an “equal weight” rating and issued a $120.00 target price on shares of Ingredion in a research report on Wednesday, February 4th. Benchmark assumed coverage on Ingredion in a research note on Tuesday, March 17th. They set a “buy” rating and a $130.00 price target for the company. Jefferies Financial Group reiterated a “hold” rating on shares of Ingredion in a research report on Wednesday, February 4th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Ingredion in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ingredion currently has an average rating of “Hold” and a consensus target price of $122.43.
Check Out Our Latest Stock Analysis on INGR
Insider Transactions at Ingredion
In other news, CEO James P. Zallie sold 9,958 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $116.55, for a total transaction of $1,160,604.90. Following the sale, the chief executive officer directly owned 33,011 shares of the company’s stock, valued at $3,847,432.05. The trade was a 23.17% 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. Also, SVP Larry Fernandes sold 1,125 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $116.55, for a total value of $131,118.75. Following the sale, the senior vice president directly owned 30,514 shares of the company’s stock, valued at approximately $3,556,406.70. This represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,459 shares of company stock valued at $1,334,001 in the last three months. 1.60% of the stock is currently owned by corporate insiders.
About Ingredion
Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.
The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.
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