Allspring Global Investments Holdings LLC Sells 60,999 Shares of Ingredion Incorporated (NYSE:INGR)

Allspring Global Investments Holdings LLC reduced its position in shares of Ingredion Incorporated (NYSE:INGR) by 44.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 75,303 shares of the company’s stock after selling 60,999 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ingredion were worth $10,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ingredion in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC bought a new stake in shares of Ingredion in the 3rd quarter valued at about $41,000. Crews Bank & Trust bought a new stake in shares of Ingredion in the 4th quarter valued at about $48,000. Versant Capital Management Inc increased its stake in shares of Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after acquiring an additional 362 shares during the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Ingredion by 82.6% in the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after acquiring an additional 223 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stephens reduced their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Oppenheimer reduced their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.20.

Insider Activity

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Ingredion Stock Down 1.0 %

INGR stock opened at $125.52 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 $8.18 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.04 and a beta of 0.74. The business’s fifty day moving average price is $135.29 and its two-hundred day moving average price is $136.50. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. Ingredion’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, January 2nd. Ingredion’s payout ratio is 32.96%.

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.