Ritholtz Wealth Management Has $2.57 Million Position in Ingredion Incorporated (NYSE:INGR)

Ritholtz Wealth Management grew its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,005 shares of the company's stock after purchasing an additional 2,369 shares during the quarter. Ritholtz Wealth Management's holdings in Ingredion were worth $2,570,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farmers & Merchants Investments Inc. grew its stake in Ingredion by 17.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 16,669 shares of the company's stock worth $2,254,000 after buying an additional 2,428 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Ingredion by 10.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,305 shares of the company's stock valued at $1,664,000 after purchasing an additional 1,114 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in shares of Ingredion by 2.5% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 5,827 shares of the company's stock worth $788,000 after buying an additional 140 shares during the period. Simon Quick Advisors LLC bought a new position in Ingredion in the 1st quarter worth approximately $259,000. Finally, CX Institutional increased its position in Ingredion by 12,078.2% in the 1st quarter. CX Institutional now owns 23,504 shares of the company's stock valued at $3,178,000 after acquiring an additional 23,311 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,400 shares of the firm'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 completion of the transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Ingredion Price Performance

Shares of Ingredion stock traded down $0.63 during trading on Monday, hitting $137.63. The stock had a trading volume of 513,823 shares, compared to its average volume of 545,094. The business has a fifty day moving average of $134.70 and a two-hundred day moving average of $134.68. The firm has a market cap of $8.85 billion, a P/E ratio of 14.17, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a fifty-two week low of $111.54 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The business's revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio is presently 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.