New York State Teachers Retirement System Trims Stock Holdings in Ingredion Incorporated (NYSE:INGR)

New York State Teachers Retirement System trimmed its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,169 shares of the company’s stock after selling 1,300 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of Ingredion worth $10,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new position in Ingredion in the 1st quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Ingredion during the fourth quarter worth $33,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after acquiring an additional 79 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Down 0.6%

Shares of Ingredion stock opened at $137.35 on Friday. The company has a fifty day simple moving average of $136.93 and a 200-day simple moving average of $133.97. Ingredion Incorporated has a 12-month low of $111.54 and a 12-month high of $155.44. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.11 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.33%. Ingredion’s payout ratio is 33.76%.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president directly owned 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Oppenheimer decreased their target price on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. Finally, UBS Group set a $155.00 price objective on Ingredion in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.20.

About Ingredion

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.