Ingredion Incorporated (NYSE:INGR) Shares Sold by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lowered its position in Ingredion Incorporated (NYSE:INGR) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,725 shares of the company’s stock after selling 550 shares during the quarter. Ingredion accounts for 1.7% of Carnegie Lake Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Carnegie Lake Advisors LLC’s holdings in Ingredion were worth $4,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of INGR. State Street Corp grew its holdings in Ingredion by 0.8% during the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after purchasing an additional 19,560 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after buying an additional 268,389 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Ingredion by 2.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after purchasing an additional 36,421 shares during the period. Geode Capital Management LLC boosted its position in shares of Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock worth $160,516,000 after buying an additional 19,064 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Ingredion by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after acquiring an additional 10,812 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of NYSE INGR opened at $127.66 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 52-week low of $107.77 and a 52-week high of $155.44. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.04 and a beta of 0.74. The stock’s fifty day simple moving average is $137.62 and its 200 day simple moving average is $136.28.

Ingredion (NYSE:INGR) last posted its quarterly earnings data 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. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. As a group, sell-side analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.51%. Ingredion’s dividend payout ratio (DPR) is currently 32.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stephens lowered their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. UBS Group raised their target price 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. Oppenheimer reduced their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and a consensus target price of $154.33.

Insiders Place Their Bets

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

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.