Principal Securities Inc. Sells 90 Shares of Ingredion Incorporated (NYSE:INGR)

Principal Securities Inc. cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,694 shares of the company’s stock after selling 90 shares during the period. Principal Securities Inc.’s holdings in Ingredion were worth $1,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INGR. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ingredion during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new position in shares of Ingredion during the third quarter valued at approximately $41,000. Crews Bank & Trust bought a new position in shares of Ingredion during the fourth quarter valued at approximately $48,000. Versant Capital Management Inc boosted its stake in shares of Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares in the last quarter. Finally, Concord Wealth Partners boosted its stake in shares of Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 223 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INGR has been the subject of several recent analyst reports. Oppenheimer lowered their target price 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. 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. BMO Capital Markets lowered their target price 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 raised their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Stephens lowered their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and a consensus price target of $158.20.

Insiders Place Their Bets

In other news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Ingredion Stock Up 1.0 %

Shares of NYSE INGR opened at $126.84 on Thursday. The company’s 50-day simple moving average is $134.57 and its 200-day simple moving average is $136.45. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. 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 (NYSE:INGR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 earnings per share. Equities analysts predict that Ingredion Incorporated will post 11.14 EPS 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 dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is presently 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.