Trust Investment Advisors Invests $1.60 Million in Ingredion Incorporated (NYSE:INGR)

Trust Investment Advisors purchased a new stake in Ingredion Incorporated (NYSE:INGR) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 11,631 shares of the company’s stock, valued at approximately $1,600,000. Ingredion comprises 1.0% of Trust Investment Advisors’ investment portfolio, making the stock its 29th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC raised its holdings 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. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after buying an additional 79 shares during the period. Mindset Wealth Management LLC increased its position in shares of Ingredion by 2.1% in the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after buying an additional 82 shares in the last quarter. Transcend Capital Advisors LLC raised its stake in Ingredion by 2.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after buying an additional 90 shares during the period. Finally, Truist Financial Corp lifted its holdings in Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Ingredion Stock Down 0.4 %

INGR stock opened at $132.54 on Wednesday. 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 stock has a market capitalization of $8.51 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. The business has a 50-day moving average of $131.53 and a 200-day moving average of $136.48.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the business earned $1.65 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.41%. Ingredion’s payout ratio is currently 32.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INGR shares. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets dropped their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Stephens reduced their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and a consensus price target of $158.20.

About Ingredion

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.