Brevan Howard Capital Management LP Acquires Shares of 5,325 Ingredion Incorporated (NYSE:INGR)

Brevan Howard Capital Management LP purchased a new position in Ingredion Incorporated (NYSE:INGR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,325 shares of the company's stock, valued at approximately $733,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Ingredion during the 4th quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Ingredion during the 4th quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake 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 worth $31,000 after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares during the period. Finally, Crews Bank & Trust purchased a new position in shares of Ingredion in the 4th quarter worth $48,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the firm's stock in a transaction that occurred on 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 sale, the senior vice president now owns 31,996 shares of the company's stock, valued at $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. This represents a 24.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,215 shares of company stock valued at $1,687,360. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. BMO Capital Markets lowered their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Stephens lowered their target price 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. 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. Finally, UBS Group set a $155.00 target price on Ingredion in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.20.

Ingredion Stock Up 0.4%

Shares of NYSE INGR traded up $0.55 during mid-day trading on Tuesday, reaching $137.78. The company had a trading volume of 596,217 shares, compared to its average volume of 584,498. The stock has a market capitalization of $8.86 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The stock's 50 day moving average is $131.88 and its 200-day moving average is $135.61. 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 released its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the prior year, the company earned $2.08 earnings per share. The business's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, April 1st. Ingredion's dividend payout ratio is currently 33.76%.

About Ingredion

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.