First Hawaiian Bank Invests $1.12 Million in Ingredion Incorporated (NYSE:INGR)

First Hawaiian Bank purchased a new stake in Ingredion Incorporated (NYSE:INGR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,306 shares of the company's stock, valued at approximately $1,123,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Ingredion by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company's stock worth $1,002,222,000 after acquiring an additional 84,863 shares in the last quarter. Geode Capital Management LLC lifted its stake in Ingredion by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company's stock valued at $162,703,000 after buying an additional 14,741 shares in the last quarter. Invesco Ltd. lifted its stake in Ingredion by 5.7% in the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company's stock worth $119,721,000 after acquiring an additional 46,819 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company's stock worth $115,930,000 after purchasing an additional 89,335 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Ingredion by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 753,680 shares of the company's stock worth $103,675,000 after purchasing an additional 28,306 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INGR. Wall Street Zen downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Oppenheimer decreased their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. UBS Group set a $155.00 price objective on Ingredion in a research note on Tuesday, April 22nd. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Finally, Stephens decreased their price target on 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.20.

Insider Activity

In related news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction 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. This trade represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Ingredion Trading Down 0.4%

NYSE INGR traded down $0.57 on Wednesday, reaching $137.87. The company had a trading volume of 88,111 shares, compared to its average volume of 471,023. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The stock's 50 day moving average is $133.72 and its 200-day moving average 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. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.03 and a beta of 0.73.

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

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Tuesday, July 1st. Ingredion's dividend payout ratio (DPR) is 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.