Ingredion Incorporated (NYSE:INGR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 727,365 shares of the company's stock after purchasing an additional 45,631 shares during the quarter. Bank of New York Mellon Corp owned 1.13% of Ingredion worth $98,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Ingredion during the 4th quarter worth $96,012,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Ingredion by 327.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock worth $73,101,000 after acquiring an additional 407,027 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of 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 acquiring an additional 314,912 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Ingredion by 536.6% during 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. Finally, Raymond James Financial Inc. purchased a new position in shares of Ingredion during the 4th quarter worth $31,752,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling

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 transaction, the senior vice president directly owned 31,996 shares in the company, 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 accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer dropped their price target on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Finally, UBS Group lifted their target price on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.40.

Ingredion Price Performance

INGR stock traded down $0.58 during mid-day trading on Friday, hitting $135.77. The company had a trading volume of 386,288 shares, compared to its average volume of 470,617. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.10 and a beta of 0.72. Ingredion Incorporated has a 12-month low of $113.94 and a 12-month high of $155.44. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $137.51 and a 200 day moving average price of $133.83.

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

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.36%. Ingredion's payout ratio is 33.76%.

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.