Stonebridge Financial Group LLC Makes New Investment in Ingredion Incorporated (NYSE:INGR)

Stonebridge Financial Group LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,168 shares of the company’s stock, valued at approximately $161,000.

Other hedge funds have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its position in Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after purchasing an additional 74 shares during the period. Signaturefd LLC grew its position in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after buying an additional 85 shares during the period. Tidal Investments LLC raised its stake in shares of Ingredion by 0.5% during the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after buying an additional 94 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Ingredion by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after buying an additional 97 shares during the period. Finally, Seelaus Asset Management LLC boosted its stake in Ingredion by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after acquiring an additional 105 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Ingredion Trading Down 0.6 %

NYSE:INGR opened at $127.88 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The business’s 50-day simple moving average is $136.80 and its 200-day simple moving average is $136.39. Ingredion Incorporated has a fifty-two week low of $107.91 and a fifty-two week high of $155.44. The stock has a market capitalization of $8.33 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is presently 32.96%.

Analysts Set New Price Targets

Several analysts have commented on INGR shares. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Oppenheimer lowered their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, Stephens reduced their price objective 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, February 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average price target of $154.33.

Ingredion Company 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.