Ingredion Incorporated (NYSE:INGR) Position Raised by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. increased its holdings in Ingredion Incorporated by 41.7% during the first quarter, now owning shares valued at approximately $3.22 million.
• Ingredion recently reported an EPS of $2.97 for the quarter, outperforming analysts' expectations, despite a 3.7% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.80 per share, with a current dividend yield of 2.42%.

Foster & Motley Inc. raised its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 41.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,832 shares of the company's stock after purchasing an additional 7,017 shares during the quarter. Foster & Motley Inc.'s holdings in Ingredion were worth $3,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. LPL Financial LLC raised its position in Ingredion by 94.1% in the fourth 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Ingredion by 653.3% in 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. JPMorgan Chase & Co. raised its position in Ingredion by 10.3% in the fourth quarter. JPMorgan Chase & Co. now owns 337,292 shares of the company's stock valued at $46,398,000 after purchasing an additional 31,465 shares during the period. Norges Bank purchased a new stake in Ingredion in the fourth quarter valued at $96,012,000. Finally, Pictet Asset Management Holding SA raised its position in Ingredion by 5.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,867 shares of the company's stock valued at $1,220,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Activity

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 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 owned 31,996 shares in the company, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on INGR shares. Oppenheimer cut 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. Wall Street Zen upgraded Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Finally, UBS Group boosted their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Three investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $151.40.

Ingredion Stock Down 3.9%

INGR traded down $5.14 on Friday, hitting $126.40. 959,566 shares of the company were exchanged, compared to its average volume of 437,771. Ingredion Incorporated has a twelve month low of $118.85 and a twelve month high of $155.44. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.05 and a beta of 0.71. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $136.12 and a two-hundred day moving average price of $133.58.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The business's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.87 EPS. On average, equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

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

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.