Amalgamated Bank Sells 1,496 Shares of Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank cut its holdings in Ingredion Incorporated (NYSE:INGR) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,094 shares of the company’s stock after selling 1,496 shares during the period. Amalgamated Bank’s holdings in Ingredion were worth $4,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of INGR. US Bancorp DE boosted its holdings in Ingredion by 1.0% in the 4th quarter. US Bancorp DE now owns 16,238 shares of the company’s stock worth $2,234,000 after buying an additional 161 shares during the period. Metis Global Partners LLC boosted its holdings in Ingredion by 3.5% in the 4th quarter. Metis Global Partners LLC now owns 3,989 shares of the company’s stock worth $549,000 after buying an additional 136 shares during the period. Jones Financial Companies Lllp boosted its holdings in Ingredion by 37.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,648 shares of the company’s stock worth $639,000 after buying an additional 1,278 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Ingredion by 770.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,691 shares of the company’s stock worth $508,000 after buying an additional 3,267 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Ingredion by 74.5% in the 4th quarter. Victory Capital Management Inc. now owns 107,438 shares of the company’s stock worth $14,779,000 after buying an additional 45,863 shares during the period. 85.27% of the stock is owned by institutional investors.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president directly owned 31,996 shares of the company’s stock, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on INGR. Wall Street Zen raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 8th. Oppenheimer cut their price target on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group set a $155.00 price target on shares of Ingredion in a report on Tuesday, April 22nd. Three investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $152.20.

Ingredion Stock Performance

Ingredion stock opened at $137.35 on Friday. 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 firm has a 50-day moving average of $136.93 and a 200-day moving average of $133.97. The firm has a market cap of $8.83 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.11 and a beta of 0.72. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. Ingredion’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

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

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.