GAMMA Investing LLC Sells 157 Shares of Ingredion Incorporated (NYSE:INGR)

GAMMA Investing LLC reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,212 shares of the company’s stock after selling 157 shares during the period. GAMMA Investing LLC’s holdings in Ingredion were worth $164,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in shares of Ingredion by 32.5% during the first quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company’s stock valued at $137,000 after purchasing an additional 247 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Ingredion by 3.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 48,699 shares of the company’s stock valued at $6,585,000 after buying an additional 1,457 shares in the last quarter. Bangor Savings Bank increased its position in Ingredion by 4,413.0% during the 1st quarter. Bangor Savings Bank now owns 4,513 shares of the company’s stock valued at $610,000 after buying an additional 4,413 shares in the last quarter. OLD National Bancorp IN purchased a new position in Ingredion during the first quarter valued at $961,000. Finally, Bank of New Hampshire boosted its holdings in Ingredion by 2.0% in the first quarter. Bank of New Hampshire now owns 17,036 shares of the company’s stock worth $2,303,000 after acquiring an additional 330 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ingredion Stock Performance

Shares of INGR opened at $137.35 on Friday. The business’s fifty day simple moving average is $137.07 and its two-hundred day simple moving average is $133.93. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.11 and a beta of 0.72.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $2.08 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

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

Insider Buying and Selling at Ingredion

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

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.