Ingredion Incorporated (NYSE:INGR) Stock Position Decreased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its holdings in Ingredion Incorporated (NYSE:INGRFree Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,912 shares of the company’s stock after selling 1,702 shares during the period. DAVENPORT & Co LLC owned about 0.13% of Ingredion worth $9,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Acadian Asset Management LLC raised its holdings in shares of Ingredion by 1,760.0% during the first quarter. Acadian Asset Management LLC now owns 1,581 shares of the company’s stock valued at $137,000 after acquiring an additional 1,496 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ingredion by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,385 shares of the company’s stock valued at $2,125,000 after purchasing an additional 2,325 shares during the period. BlackRock Inc. lifted its holdings in shares of Ingredion by 1.9% in the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock valued at $504,608,000 after purchasing an additional 107,110 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Ingredion by 14.6% in the first quarter. Great West Life Assurance Co. Can now owns 42,242 shares of the company’s stock worth $3,791,000 after buying an additional 5,392 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in shares of Ingredion by 1.2% during the first quarter. Yousif Capital Management LLC now owns 29,968 shares of the company’s stock valued at $2,612,000 after buying an additional 350 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the transaction, the vice president now owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now owns 28,966 shares in the company, valued at approximately $3,333,407.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the transaction, the vice president now directly owns 1,723 shares in the company, valued at approximately $202,245.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,922 shares of company stock worth $6,903,154. Insiders own 1.56% of the company’s stock.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and boosted their target price for the company from $122.00 to $135.00 in a research note on Thursday, February 15th. Finally, Barclays raised their price target on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and a consensus target price of $126.67.

Check Out Our Latest Analysis on Ingredion

Ingredion Price Performance

NYSE:INGR opened at $114.41 on Thursday. Ingredion Incorporated has a one year low of $89.54 and a one year high of $118.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. The company has a fifty day moving average price of $114.21 and a 200 day moving average price of $106.22. The stock has a market cap of $7.51 billion, a P/E ratio of 11.92, a PEG ratio of 1.11 and a beta of 0.81.

Ingredion (NYSE:INGRGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is currently 32.50%.

Ingredion Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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