Asset Management One Co. Ltd. Lowers Holdings in Ingredion Incorporated (NYSE:INGR)

Asset Management One Co. Ltd. trimmed its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 17.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,208 shares of the company's stock after selling 3,814 shares during the period. Asset Management One Co. Ltd.'s holdings in Ingredion were worth $2,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Ingredion during the 4th quarter valued at about $96,012,000. Assetmark Inc. lifted its position in shares of Ingredion by 38,341.7% in the fourth quarter. Assetmark Inc. now owns 509,352 shares of the company's stock worth $70,067,000 after buying an additional 508,027 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Ingredion by 327.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock valued at $73,101,000 after buying an additional 407,027 shares during the last quarter. Prudential Financial Inc. grew its holdings in Ingredion by 93.2% during the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock valued at $89,790,000 after buying an additional 314,912 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Ingredion by 536.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock worth $49,680,000 after acquiring an additional 304,421 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INGR has been the subject of a number of research reports. UBS Group set a $155.00 target price on Ingredion in a research report on Tuesday, April 22nd. Oppenheimer lowered 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 shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Three 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 stock. According to data from MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and a consensus price target of $152.20.

Insider Transactions at Ingredion

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 value of $325,968.00. Following the transaction, the senior vice president owned 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

Ingredion Trading Down 0.6%

NYSE:INGR traded down $0.86 during midday trading on Thursday, hitting $137.35. 226,583 shares of the company traded hands, compared to its average volume of 470,048. The firm has a market capitalization of $8.83 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.10 and a beta of 0.72. The firm's fifty day moving average is $136.78 and its 200-day moving average is $134.01. Ingredion Incorporated has a 12-month low of $111.54 and a 12-month high of $155.44. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44.

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

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be paid a dividend of $0.80 per share. 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 currently 33.76%.

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.