Crossmark Global Holdings Inc. Buys 7,013 Shares of Ingredion Incorporated (NYSE:INGR)

Crossmark Global Holdings Inc. increased its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,549 shares of the company's stock after buying an additional 7,013 shares during the period. Crossmark Global Holdings Inc.'s holdings in Ingredion were worth $2,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Ingredion during the 1st quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ingredion by 653.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Ingredion during the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC grew its position in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after purchasing an additional 79 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Ingredion in the 4th quarter worth about $55,000. 85.27% of the stock is owned by institutional investors.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the business'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 owned 31,996 shares in the company, valued at $4,345,696.72. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Ingredion Price Performance

Shares of Ingredion stock opened at $136.06 on Thursday. The company's fifty day simple moving average is $137.33 and its two-hundred day simple moving average is $133.87. Ingredion Incorporated has a 12-month low of $112.21 and a 12-month high of $155.44. The firm has a market cap of $8.75 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.10 and a beta of 0.72. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44.

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

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.35%. Ingredion's dividend payout ratio (DPR) is presently 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.

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