Impax Asset Management Group plc Purchases New Position in Ingredion Incorporated (NYSE:INGR)

Impax Asset Management Group plc purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,780 shares of the company's stock, valued at approximately $646,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new position in Ingredion during the fourth quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new stake in Ingredion during the first quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in 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 during the period. Ameriflex Group Inc. purchased a new stake in Ingredion during the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC raised its position in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the period. 85.27% of the stock is owned by institutional investors.

Ingredion Trading Down 0.6%

Shares of NYSE INGR opened at $137.35 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.86 and a current ratio of 2.85. The business's 50 day moving average price is $137.07 and its 200-day moving average price is $133.88. Ingredion Incorporated has a fifty-two week low of $111.93 and a fifty-two week high of $155.44. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.11 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The company's revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.80 per share. 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 (DPR) is presently 33.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INGR shares. Oppenheimer decreased their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen upgraded Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Finally, UBS Group set a $155.00 price objective on Ingredion in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ingredion presently has a consensus rating of "Moderate Buy" and an average target price of $152.20.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction on 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 sale, the senior vice president directly owned 31,996 shares of the company's stock, valued at $4,345,696.72. The trade was a 6.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Ingredion Company 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.

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