Allspring Global Investments Holdings LLC Sells 5,927 Shares of Ingredion Incorporated (NYSE:INGR)

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

Other large investors also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new position in Ingredion during the 4th quarter worth $25,000. Alpine Bank Wealth Management acquired a new position in Ingredion during the 1st quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after buying an additional 196 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Ingredion in the 4th quarter worth $33,000. Finally, EverSource Wealth Advisors LLC raised its stake 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 in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Down 0.8%

INGR traded down $1.09 during trading hours on Monday, hitting $136.26. 367,679 shares of the company's stock were exchanged, compared to its average volume of 468,786. The stock's 50-day moving average is $137.07 and its two-hundred day moving average is $133.88. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 1-year low of $111.93 and a 1-year high of $155.44. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.11 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly 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. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The business's revenue was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.35%. The ex-dividend date is Tuesday, July 1st. Ingredion's payout ratio is presently 33.76%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INGR. UBS Group set a $155.00 target price on Ingredion in a research report on Tuesday, April 22nd. Oppenheimer decreased their price target 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, Wall Street Zen upgraded Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.20.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was 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 directly owned 31,996 shares in the company, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by insiders.

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.