Comerica Bank Has $6.34 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Comerica Bank raised its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,077 shares of the company's stock after buying an additional 4,890 shares during the quarter. Comerica Bank owned about 0.07% of Ingredion worth $6,338,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Ingredion during the 4th quarter worth approximately $96,012,000. Assetmark Inc. raised its stake in shares of Ingredion by 38,341.7% in the 4th quarter. Assetmark Inc. now owns 509,352 shares of the company's stock valued at $70,067,000 after buying an additional 508,027 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Ingredion during the 4th quarter valued at about $58,642,000. Prudential Financial Inc. increased its stake in Ingredion by 93.2% in the fourth quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock valued at $89,790,000 after acquiring an additional 314,912 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in Ingredion by 536.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock worth $49,680,000 after purchasing an additional 304,421 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INGR shares. Stephens dropped their target price on 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 target price on shares of Ingredion in a research note on Tuesday, April 22nd. Oppenheimer dropped their target price on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research 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. Finally, BMO Capital Markets decreased 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. Three investment 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 has a consensus rating of "Moderate Buy" and an average target price of $152.20.

Insider Transactions 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. Also, SVP Larry Fernandes sold 2,400 shares of the company'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 transaction of $325,968.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,215 shares of company stock worth $1,687,360. 2.30% of the stock is currently owned by company insiders.

Ingredion Price Performance

Shares of INGR traded down $0.18 during mid-day trading on Friday, hitting $137.05. 394,931 shares of the company traded hands, compared to its average volume of 469,167. The business has a 50-day moving average of $131.72 and a 200 day moving average of $135.59. Ingredion Incorporated has a one year low of $111.54 and a one year high of $155.44. 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 stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.03 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates 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 quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 earnings per share. As a group, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) is currently 33.76%.

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.