American National Bank & Trust Buys Shares of 4,577 Ingredion Incorporated (NYSE:INGR)

American National Bank & Trust bought a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,577 shares of the company's stock, valued at approximately $619,000.

A number of other hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the period. Mindset Wealth Management LLC raised its stake in shares of Ingredion by 2.1% during the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after buying an additional 82 shares during the last quarter. Waverly Advisors LLC lifted its holdings in shares of Ingredion by 3.8% in the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock valued at $317,000 after buying an additional 84 shares during the period. Transcend Capital Advisors LLC boosted its stake in shares of Ingredion by 2.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock worth $594,000 after buying an additional 90 shares during the last quarter. Finally, Truist Financial Corp raised its position in Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company's stock valued at $943,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INGR shares. Oppenheimer cut their target price on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. UBS Group set a $155.00 price objective on shares of Ingredion in a research report on Tuesday, April 22nd. Stephens lowered their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets cut their price target 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. Finally, Wall Street Zen cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and a consensus target price of $152.20.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction dated 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 sale, the senior vice president now owns 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Ingredion Price Performance

INGR traded down $0.90 during midday trading on Wednesday, hitting $137.54. 183,693 shares of the company traded hands, compared to its average volume of 471,558. The business has a 50 day simple moving average of $133.72 and a two-hundred day simple moving average of $135.13. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.03 and a beta of 0.73. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.53. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm posted $2.08 EPS. Ingredion's revenue was down 3.7% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, July 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.