Ingredion Incorporated (NYSE:INGR) Shares Sold by Sageworth Trust Co

Sageworth Trust Co decreased its stake in Ingredion Incorporated (NYSE:INGR) by 24.5% during the 4th quarter, Holdings Channel reports. The firm owned 2,000 shares of the company’s stock after selling 650 shares during the quarter. Sageworth Trust Co’s holdings in Ingredion were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of INGR. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new position in shares of Ingredion during the third quarter valued at approximately $41,000. Crews Bank & Trust purchased a new position in shares of Ingredion in the fourth quarter valued at approximately $48,000. Versant Capital Management Inc boosted its stake in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after acquiring an additional 362 shares during the last quarter. Finally, Concord Wealth Partners increased its position in shares of Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,992 shares of company stock valued at $8,913,841 over the last 90 days. 1.80% of the stock is owned by company insiders.

Ingredion Stock Up 0.3 %

Shares of NYSE INGR opened at $127.83 on Friday. The company has a market capitalization of $8.33 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.11 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The company has a 50 day simple moving average of $138.01 and a 200-day simple moving average of $135.97. Ingredion Incorporated has a 1 year low of $107.77 and a 1 year high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were given a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. Ingredion’s payout ratio is currently 31.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INGR shares. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday. Stephens decreased their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday. UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays raised their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.33.

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.