Kingsview Wealth Management LLC acquired a new stake in shares of Ingredion Incorporated (NYSE:INGR – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 73,675 shares of the company’s stock, valued at approximately $8,123,000.
A number of other hedge funds also recently bought and sold shares of the company. Expressive Wealth LLC bought a new position in Ingredion during the fourth quarter valued at approximately $241,000. Cary Street Partners Financial LLC lifted its holdings in shares of Ingredion by 1.3% in the 4th quarter. Cary Street Partners Financial LLC now owns 30,569 shares of the company’s stock worth $3,371,000 after acquiring an additional 382 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Ingredion by 223.8% in the 4th quarter. Harbour Investments Inc. now owns 2,208 shares of the company’s stock valued at $243,000 after purchasing an additional 1,526 shares in the last quarter. Murphy Pohlad Asset Management LLC boosted its stake in shares of Ingredion by 1.2% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 8,340 shares of the company’s stock valued at $920,000 after purchasing an additional 95 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of Ingredion by 33.6% during the 4th quarter. Cooke & Bieler LP now owns 1,207,153 shares of the company’s stock valued at $133,101,000 after purchasing an additional 303,807 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.
Ingredion Stock Down 0.6%
Shares of NYSE INGR opened at $103.31 on Friday. The firm’s fifty day moving average is $109.49 and its 200 day moving average is $111.65. Ingredion Incorporated has a 52 week low of $98.29 and a 52 week high of $140.47. The company has a quick ratio of 1.83, a current ratio of 2.76 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.87 and a beta of 0.64.
Ingredion Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Wednesday, July 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, July 1st. Ingredion’s payout ratio is currently 31.60%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. BMO Capital Markets reiterated a “market perform” rating 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 objective on the stock. Wall Street Zen downgraded Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Oppenheimer lowered their target price on Ingredion from $130.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ingredion in a report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $122.43.
Get Our Latest Stock Analysis on INGR
Insider Transactions at Ingredion
In other Ingredion news, VP Davida Marie Gable sold 375 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $112.44, for a total transaction of $42,165.00. Following the completion of the transaction, the vice president owned 7,110 shares of the company’s stock, valued at $799,448.40. This represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Ingredion Profile
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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