Ingredion Incorporated (NYSE:INGR) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Ingredion Incorporated (NYSE:INGR) by 18.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,062 shares of the company’s stock after selling 681 shares during the period. Maryland State Retirement & Pension System’s holdings in Ingredion were worth $414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Caisse DE Depot ET Placement DU Quebec boosted its stake in Ingredion by 327.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company’s stock worth $73,101,000 after buying an additional 407,027 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock worth $162,840,000 after buying an additional 361,584 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Ingredion by 536.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company’s stock worth $49,680,000 after buying an additional 304,421 shares during the last quarter. Deutsche Bank AG boosted its stake in Ingredion by 766.7% during the first quarter. Deutsche Bank AG now owns 230,317 shares of the company’s stock worth $31,141,000 after buying an additional 203,742 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Ingredion by 11,870.4% during the first quarter. GAMMA Investing LLC now owns 163,875 shares of the company’s stock worth $221,580,000 after buying an additional 162,506 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

NYSE:INGR opened at $125.84 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.08 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.01 and a beta of 0.71. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The stock’s fifty day moving average is $133.75 and its two-hundred day moving average is $132.96.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.87 EPS. Equities analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, July 1st. Ingredion’s payout ratio is currently 31.22%.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the sale, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total value of $4,591,031.24. Following the completion of the sale, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,137 shares of company stock worth $4,700,163 in the last quarter. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

INGR has been the topic of a number of research analyst reports. Wall Street Zen downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. UBS Group lifted their target price on Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Finally, Oppenheimer reduced their target price on Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.40.

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.