VIRGINIA RETIREMENT SYSTEMS ET Al decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR – Free Report) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,250 shares of the company’s stock after selling 8,350 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.27% of Ingredion worth $18,882,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Ingredion by 143.1% in the third quarter. AQR Capital Management LLC now owns 1,191,118 shares of the company’s stock valued at $144,685,000 after acquiring an additional 701,063 shares in the last quarter. Snyder Capital Management L P grew its holdings in shares of Ingredion by 22.0% in the third quarter. Snyder Capital Management L P now owns 1,323,847 shares of the company’s stock valued at $161,655,000 after acquiring an additional 238,420 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ingredion by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 7,487,354 shares of the company’s stock valued at $825,556,000 after acquiring an additional 208,606 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Ingredion by 2,409.3% in the third quarter. Voloridge Investment Management LLC now owns 198,659 shares of the company’s stock valued at $24,258,000 after acquiring an additional 190,742 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Ingredion by 118.3% in the third quarter. Two Sigma Investments LP now owns 271,006 shares of the company’s stock valued at $33,093,000 after acquiring an additional 146,874 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.
Ingredion Price Performance
NYSE INGR opened at $106.08 on Thursday. The business’s fifty day moving average price is $111.86 and its 200-day moving average price is $112.50. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.76 and a quick ratio of 1.83. Ingredion Incorporated has a 1-year low of $100.71 and a 1-year high of $141.78.
Ingredion Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Wednesday, April 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, April 1st. Ingredion’s payout ratio is 31.60%.
Wall Street Analysts Forecast Growth
INGR has been the subject of several recent analyst reports. Wall Street Zen lowered Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Oppenheimer dropped their price target on Ingredion from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Barclays cut their price target on Ingredion from $128.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. UBS Group restated a “neutral” rating and set a $114.00 price target on shares of Ingredion in a research report on Thursday, May 7th. Finally, Benchmark began coverage on Ingredion in a research note on Tuesday, March 17th. They issued a “buy” rating and a $130.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $122.43.
Check Out Our Latest Research Report on INGR
Insider Buying and Selling
In related news, CEO James P. Zallie sold 9,958 shares of Ingredion stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $116.55, for a total value of $1,160,604.90. Following the completion of the transaction, the chief executive officer owned 33,011 shares in the company, valued at approximately $3,847,432.05. This trade represents a 23.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 1,125 shares of Ingredion stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $116.55, for a total value of $131,118.75. Following the completion of the transaction, the senior vice president owned 30,514 shares of the company’s stock, valued at approximately $3,556,406.70. This represents a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 11,459 shares of company stock worth $1,334,001. Corporate insiders own 1.60% of the company’s stock.
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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