Amalgamated Bank Sells 4,528 Shares of Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank lessened its stake in Ingredion Incorporated (NYSE:INGR) by 9.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,552 shares of the company’s stock after selling 4,528 shares during the quarter. Amalgamated Bank owned about 0.07% of Ingredion worth $4,727,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Ingredion by 7.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,004 shares of the company’s stock worth $394,000 after purchasing an additional 266 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Ingredion by 27.5% during the 3rd quarter. Brown Advisory Inc. now owns 2,426 shares of the company’s stock worth $239,000 after buying an additional 524 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Ingredion by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 93,195 shares of the company’s stock valued at $9,170,000 after acquiring an additional 5,201 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Ingredion by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,731 shares of the company’s stock valued at $367,000 after acquiring an additional 134 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ingredion by 31.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,096 shares of the company’s stock worth $1,387,000 after acquiring an additional 3,369 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James P. Zallie sold 54,581 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the sale, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the sale, the senior vice president now owns 28,966 shares of the company’s stock, valued at approximately $3,333,407.28. The disclosure for this sale can be found here. Insiders sold a total of 58,921 shares of company stock worth $6,903,045 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Up 1.0 %

NYSE INGR opened at $116.60 on Wednesday. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week 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 business has a fifty day moving average price of $115.24 and a two-hundred day moving average price of $109.31. The stock has a market capitalization of $7.65 billion, a PE ratio of 12.15, a PEG ratio of 1.08 and a beta of 0.81.

Ingredion (NYSE:INGR) last posted 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 business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $1.65 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts expect that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were paid a $0.78 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.68%. Ingredion’s dividend payout ratio (DPR) is presently 32.50%.

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.