Bank of America Corp DE Sells 141,213 Shares of Ingredion Incorporated (NYSE:INGR)

Bank of America Corp DE reduced its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 27.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 377,070 shares of the company's stock after selling 141,213 shares during the quarter. Bank of America Corp DE owned 0.58% of Ingredion worth $51,870,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of INGR. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ingredion during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ingredion during the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in Ingredion during the 4th quarter valued at approximately $48,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group set a $155.00 price objective on Ingredion in a research report on Tuesday, April 22nd. Oppenheimer lowered 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. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. BMO Capital Markets reduced their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Finally, Stephens decreased their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.20.

Ingredion Price Performance

Shares of INGR traded up $2.02 during trading hours on Friday, reaching $140.91. The stock had a trading volume of 481,389 shares, compared to its average volume of 469,021. The stock has a market capitalization of $9.06 billion, a PE ratio of 14.51, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The company's 50-day moving average is $132.05 and its two-hundred day moving average is $135.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.08 EPS. Research 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 was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were issued a $0.80 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.27%. Ingredion's dividend payout ratio (DPR) is presently 33.76%.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 2,400 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the transaction, the senior vice president now directly owns 31,996 shares in the company, valued at $4,345,696.72. The trade was a 6.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. This trade represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,215 shares of company stock valued at $1,687,360. 2.30% of the stock is owned by company insiders.

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.