Covea Finance Buys 2,400 Shares of Ingredion Incorporated (NYSE:INGR)

Covea Finance grew its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,500 shares of the company's stock after acquiring an additional 2,400 shares during the quarter. Covea Finance owned about 0.08% of Ingredion worth $7,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Ingredion in the 4th quarter valued at $96,012,000. Assetmark Inc. lifted its position in shares of Ingredion by 38,341.7% during the fourth quarter. Assetmark Inc. now owns 509,352 shares of the company's stock valued at $70,067,000 after purchasing an additional 508,027 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings 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 worth $73,101,000 after purchasing an additional 407,027 shares during the last quarter. Prudential Financial Inc. grew its position in Ingredion by 93.2% in the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock worth $89,790,000 after purchasing 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 valued at $49,680,000 after buying an additional 304,421 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. UBS Group set a $155.00 price objective on Ingredion in a research note on Tuesday, April 22nd. Finally, Oppenheimer lowered their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Three 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.20.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of Ingredion 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 now directly owns 31,996 shares in the company, valued at approximately $4,345,696.72. The trade was a 6.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

Ingredion Stock Performance

Shares of NYSE:INGR traded up $0.36 during mid-day trading on Friday, reaching $137.26. The company had a trading volume of 1,075,754 shares, compared to its average volume of 470,364. Ingredion Incorporated has a one year low of $111.54 and a one year 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. The company's 50-day moving average price is $135.69 and its 200-day moving average price is $134.29. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.10 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $2.08 earnings per share. The business's revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio is currently 33.76%.

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.