Foundations Investment Advisors LLC Raises Stake in Ingredion Incorporated (NYSE:INGR)

Key Points

• Foundations Investment Advisors LLC increased its stake in Ingredion by 133.9% in the 1st quarter, bringing its total holdings to 4,785 shares valued at $647,000.
• Major institutional investors, including Massachusetts Financial Services and Allianz Asset Management, have also boosted their holdings in Ingredion during the same period.
• Ingredion reported an EPS of $2.97 for the last quarter, exceeding estimates, but their revenue fell by 3.7% year-over-year.

Foundations Investment Advisors LLC grew its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 133.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,785 shares of the company's stock after purchasing an additional 2,739 shares during the quarter. Foundations Investment Advisors LLC's holdings in Ingredion were worth $647,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of INGR. LPL Financial LLC increased its stake in Ingredion by 94.1% during the 4th quarter. LPL Financial LLC now owns 43,804 shares of the company's stock valued at $6,026,000 after purchasing an additional 21,231 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings 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 acquiring an additional 196 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ingredion by 10.3% during the 4th quarter. JPMorgan Chase & Co. now owns 337,292 shares of the company's stock worth $46,398,000 after acquiring an additional 31,465 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Ingredion by 5.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,867 shares of the company's stock worth $1,220,000 after acquiring an additional 460 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in Ingredion by 2.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 11,919 shares of the company's stock worth $1,640,000 after acquiring an additional 311 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Stock Performance

Ingredion stock traded down $5.14 during midday trading on Friday, reaching $126.40. The stock had a trading volume of 959,566 shares, compared to its average volume of 437,771. Ingredion Incorporated has a 12 month low of $118.85 and a 12 month high of $155.44. The firm's 50-day moving average price is $136.12 and its 200 day moving average price is $133.59. The firm has a market capitalization of $8.13 billion, a PE ratio of 12.33, a P/E/G ratio of 1.01 and a beta of 0.71. 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 data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The business had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the previous year, the business posted $2.87 EPS. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, July 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. Ingredion's dividend payout ratio is currently 33.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Oppenheimer cut their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. 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, July 9th. Finally, Wall Street Zen upgraded Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $151.40.

Insider Buying and Selling at Ingredion

In related 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

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.