Allspring Global Investments Holdings LLC Reduces Holdings in Ingredion Incorporated (NYSE:INGR)

Allspring Global Investments Holdings LLC reduced its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 69,376 shares of the company's stock after selling 5,927 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of Ingredion worth $9,432,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in INGR. First Trust Advisors LP lifted its holdings in Ingredion by 1.9% during the 4th quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock worth $80,209,000 after buying an additional 10,703 shares in the last quarter. Magnetar Financial LLC lifted its holdings in Ingredion by 606.2% during the 4th quarter. Magnetar Financial LLC now owns 38,023 shares of the company's stock worth $5,230,000 after buying an additional 32,639 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Ingredion by 93.2% during the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock worth $89,790,000 after buying an additional 314,912 shares in the last quarter. Level Four Advisory Services LLC lifted its holdings in Ingredion by 6.7% during the 4th quarter. Level Four Advisory Services LLC now owns 35,428 shares of the company's stock worth $4,874,000 after buying an additional 2,210 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Ingredion by 24.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 26,953 shares of the company's stock worth $3,644,000 after buying an additional 5,215 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Down 0.6%

Shares of NYSE:INGR traded down $0.86 during trading hours on Friday, reaching $137.35. The stock had a trading volume of 226,583 shares, compared to its average volume of 469,192. Ingredion Incorporated has a 1 year low of $111.93 and a 1 year high of $155.44. The firm's 50 day moving average is $137.07 and its 200-day moving average is $133.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.86 and a current ratio of 2.85. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.10 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company's quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Tuesday, July 1st. Ingredion's dividend payout ratio is presently 33.76%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INGR. UBS Group set a $155.00 target price on shares of Ingredion in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Oppenheimer reduced their target price on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.20.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the 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 sale, the senior vice president directly owned 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 document filed with the SEC, which is available at this link. Corporate insiders own 2.30% of the company's stock.

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.