Arkadios Wealth Advisors Invests $348,000 in Ingredion Incorporated (NYSE:INGR)

Key Points

• Arkadios Wealth Advisors has purchased a new stake in Ingredion Incorporated during the first quarter, acquiring 2,574 shares valued at approximately $348,000.
• Several hedge funds have significantly increased their positions in Ingredion, with Caisse DE Depot ET Placement DU Quebec raising its holdings by 327.2% last quarter.
• Ingredion recently reported quarterly earnings of $2.87 EPS, exceeding estimates of $2.78, although its quarterly revenue decreased by 2.4% year-over-year.

Arkadios Wealth Advisors acquired a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,574 shares of the company's stock, valued at approximately $348,000.

A number of other institutional investors also recently bought and sold shares of the company. LPL Financial LLC lifted its holdings in Ingredion by 94.1% during the 4th quarter. LPL Financial LLC now owns 43,804 shares of the company's stock worth $6,026,000 after buying an additional 21,231 shares during the last quarter. Alliancebernstein L.P. increased its stake in Ingredion by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 115,122 shares of the company's stock valued at $15,836,000 after buying an additional 764 shares during the period. Quadrant Capital Group LLC raised its holdings in Ingredion by 25.6% during the fourth quarter. Quadrant Capital Group LLC now owns 795 shares of the company's stock worth $109,000 after purchasing an additional 162 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Ingredion by 12.0% in the 4th quarter. Cerity Partners LLC now owns 20,941 shares of the company's stock valued at $2,880,000 after buying an additional 2,250 shares during the period. Finally, Polymer Capital Management US LLC purchased a new stake in shares of Ingredion during the 4th quarter worth $356,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Trading Up 0.9%

INGR stock traded up $1.07 during midday trading on Thursday, reaching $126.25. 316,917 shares of the company's stock traded hands, compared to its average volume of 517,580. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44. The business has a 50-day moving average price of $135.14 and a two-hundred day moving average price of $133.35. The company has a market capitalization of $8.12 billion, a P/E ratio of 10.87, a PEG ratio of 1.00 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the prior year, the company earned $2.87 EPS. The firm's revenue was down 2.4% on a year-over-year basis. Equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Ingredion's dividend payout ratio is currently 31.22%.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares of the company's stock, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

INGR has been the topic of a number of research reports. UBS Group upped their price target on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Oppenheimer cut their price objective 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. Finally, Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Three equities research 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $151.40.

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.