CIBC Asset Management Inc Raises Stake in Ingredion Incorporated (NYSE:INGR)

CIBC Asset Management Inc lifted its position in shares of Ingredion Incorporated (NYSE:INGR) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,074 shares of the company’s stock after buying an additional 106 shares during the period. CIBC Asset Management Inc’s holdings in Ingredion were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Ingredion by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 753,680 shares of the company’s stock valued at $103,675,000 after acquiring an additional 28,306 shares during the last quarter. James Investment Research Inc. grew its position in shares of Ingredion by 105.0% in the fourth quarter. James Investment Research Inc. now owns 6,569 shares of the company’s stock valued at $904,000 after purchasing an additional 3,364 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in Ingredion by 2.9% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,355 shares of the company’s stock valued at $2,662,000 after purchasing an additional 547 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted its position in Ingredion by 28.6% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 9,186 shares of the company’s stock worth $1,264,000 after buying an additional 2,044 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Ingredion by 4.4% in the 4th quarter. Van ECK Associates Corp now owns 163,575 shares of the company’s stock worth $22,501,000 after buying an additional 6,845 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on INGR shares. Oppenheimer cut their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. UBS Group increased their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets lowered their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Barclays increased 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. Finally, Stephens lowered 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Stock Performance

Shares of INGR stock opened at $130.30 on Tuesday. The company’s fifty day simple moving average is $133.61 and its 200-day simple moving average is $136.59. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The company has a market cap of $8.36 billion, a PE ratio of 13.42, a P/E/G ratio of 1.03 and a beta of 0.74.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. Ingredion’s dividend payout ratio is currently 32.96%.

Insider Transactions at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the business’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 transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the sale, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,685 shares of company stock valued at $9,414,112. Corporate 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.