Algert Global LLC Purchases New Position in Ingredion Incorporated (NYSE:INGR)

Algert Global LLC acquired a new stake in Ingredion Incorporated (NYSE:INGR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 92,470 shares of the company's stock, valued at approximately $12,720,000. Algert Global LLC owned approximately 0.14% of Ingredion at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of INGR. AXA S.A. boosted its holdings in shares of Ingredion by 31.8% in the 4th quarter. AXA S.A. now owns 24,055 shares of the company's stock valued at $3,309,000 after buying an additional 5,804 shares during the period. South Plains Financial Inc. purchased a new stake in Ingredion in the 4th quarter worth approximately $149,000. Jane Street Group LLC raised its position in Ingredion by 170.6% during the fourth quarter. Jane Street Group LLC now owns 103,810 shares of the company's stock valued at $14,280,000 after acquiring an additional 65,447 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Ingredion by 327.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock valued at $73,101,000 after purchasing an additional 407,027 shares during the period. Finally, Parvin Asset Management LLC bought a new stake in Ingredion in the 4th quarter valued at $1,483,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by insiders.

Ingredion Price Performance

Shares of NYSE:INGR traded down $2.79 on Wednesday, reaching $135.65. 532,959 shares of the company were exchanged, compared to its average volume of 470,792. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $131.32 and a 200-day moving average of $135.55. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its 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. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion's revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $2.08 earnings per share. Equities analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.36%. Ingredion's dividend payout ratio is 32.96%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INGR. Stephens lowered their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. BMO Capital Markets dropped their price target 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. Finally, Oppenheimer reduced their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $152.20.

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.