Blueshift Asset Management LLC Purchases Shares of 2,124 Ingredion Incorporated (NYSE:INGR)

Key Points

• Blueshift Asset Management LLC has acquired 2,124 shares of Ingredion Incorporated, valued at approximately $287,000, as part of its new position in the company in the 1st quarter.
• Several hedge funds have also modified their holdings in Ingredion, with institutional investors now owning over 85% of the stock.
• Analysts have recently adjusted their ratings on Ingredion, resulting in an average price target of $151.40 and a current average rating of "Moderate Buy."

Blueshift Asset Management LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,124 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds also recently modified their holdings of the stock. Alpine Bank Wealth Management acquired a new stake in Ingredion in the first quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after purchasing an additional 196 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Ingredion in the 1st quarter valued at about $32,000. Ameriflex Group Inc. bought a new stake in Ingredion in the 4th quarter valued at about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after buying an additional 80 shares during the period. Institutional investors own 85.27% of the company's stock.

Analysts Set New Price Targets

INGR has been the subject of a number of research reports. Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. UBS Group lifted their price target on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, Oppenheimer lowered their price objective 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 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $151.40.

Insider Activity

In related news, SVP Larry Fernandes sold 2,400 shares of Ingredion 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 sale, the senior vice president directly owned 31,996 shares in the company, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

Ingredion Trading Down 3.9%

NYSE INGR opened at $126.40 on Friday. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $136.12 and a 200 day simple moving average of $133.59. Ingredion Incorporated has a 12 month low of $118.85 and a 12 month high of $155.44. The firm has a market capitalization of $8.13 billion, a P/E ratio of 12.33, a PEG ratio of 1.01 and a beta of 0.71.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted $2.87 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders 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 annualized dividend and a dividend yield of 2.5%. Ingredion's dividend payout ratio is currently 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.

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