Ingredion Incorporated (NYSE:INGR) Shares Purchased by CX Institutional

CX Institutional raised its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 12,078.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,504 shares of the company's stock after purchasing an additional 23,311 shares during the period. CX Institutional's holdings in Ingredion were worth $3,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. First Trust Advisors LP grew its stake in shares of Ingredion by 1.9% during the fourth quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock worth $80,209,000 after acquiring an additional 10,703 shares during the last quarter. Magnetar Financial LLC grew its stake in shares of Ingredion by 606.2% during the fourth quarter. Magnetar Financial LLC now owns 38,023 shares of the company's stock worth $5,230,000 after acquiring an additional 32,639 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in shares of Ingredion during the fourth quarter worth about $963,000. Prudential Financial Inc. grew its stake in shares of Ingredion by 93.2% during the fourth quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock worth $89,790,000 after acquiring an additional 314,912 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its stake in shares of Ingredion by 6.7% during the fourth quarter. Level Four Advisory Services LLC now owns 35,428 shares of the company's stock worth $4,874,000 after acquiring an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group set a $155.00 target price on Ingredion in a report on Tuesday, April 22nd. Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Oppenheimer decreased their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.20.

Ingredion Trading Down 0.9%

INGR traded down $1.22 on Friday, hitting $138.22. The company had a trading volume of 387,832 shares, compared to its average volume of 475,068. The firm has a market cap of $8.89 billion, a P/E ratio of 14.23, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The company's fifty day moving average price is $134.70 and its 200 day moving average price is $134.68. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly 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. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. As a group, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business 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 dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, July 1st. Ingredion's payout ratio is currently 33.76%.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the sale, the senior vice president now directly owns 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.