California State Teachers Retirement System Has $8.38 Million Stake in Ingredion Incorporated (NYSE:INGR)

California State Teachers Retirement System reduced its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,914 shares of the company's stock after selling 1,914 shares during the period. California State Teachers Retirement System owned about 0.09% of Ingredion worth $8,379,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of INGR. EverSource Wealth Advisors LLC boosted its holdings in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after acquiring an additional 79 shares during the last quarter. Mindset Wealth Management LLC grew its position in shares of Ingredion by 2.1% in the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after purchasing an additional 82 shares in the last quarter. Waverly Advisors LLC increased its position in Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after purchasing an additional 84 shares during the last quarter. Transcend Capital Advisors LLC raised its position in shares of Ingredion by 2.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock valued at $594,000 after buying an additional 90 shares during the period. Finally, Truist Financial Corp lifted its position in Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company's stock valued at $943,000 after buying an additional 90 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 completion of the sale, the senior vice president now owns 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. BMO Capital Markets dropped their target price on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Wall Street Zen lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday. UBS Group set a $155.00 target price on shares of Ingredion in a research note on Tuesday, April 22nd. Oppenheimer reduced their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens cut their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $152.20.

Ingredion Stock Down 0.8%

INGR traded down $1.14 during midday trading on Wednesday, hitting $137.30. The company had a trading volume of 347,470 shares, compared to its average volume of 472,963. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.03 and a beta of 0.73. The stock's 50 day moving average price is $133.72 and its 200 day moving average price is $135.13. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.53. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. On average, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business 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 $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. 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.