Cooke & Bieler LP Sells 8,128 Shares of Ingredion Incorporated (NYSE:INGR)

Cooke & Bieler LP decreased its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 783,256 shares of the company's stock after selling 8,128 shares during the period. Cooke & Bieler LP owned approximately 1.22% of Ingredion worth $105,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in Ingredion during the 1st quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in 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 buying an additional 196 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Ingredion during the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its position in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Ingredion during the 4th quarter worth about $55,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Stock Performance

Shares of NYSE:INGR traded down $1.38 on Friday, reaching $133.16. 487,146 shares of the company's stock were exchanged, compared to its average volume of 473,884. The company has a fifty day moving average of $137.43 and a 200-day moving average of $133.73. Ingredion Incorporated has a twelve month low of $117.49 and a twelve month high of $155.44. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.08 and a beta of 0.72. 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 issued its quarterly 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm's quarterly revenue was down 3.7% on a year-over-year basis. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio (DPR) is currently 33.76%.

Analyst Ratings Changes

INGR has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. UBS Group boosted their price objective on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note 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 research note on Tuesday, April 22nd. Three equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $151.40.

Insider Transactions at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company's stock.

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.