Ingredion Incorporated (NYSE:INGR) Holdings Cut by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 388,300 shares of the company's stock after selling 38,000 shares during the period. Ingredion accounts for approximately 1.7% of Hennessy Advisors Inc.'s holdings, making the stock its 9th biggest holding. Hennessy Advisors Inc. owned 0.60% of Ingredion worth $52,502,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new position in shares of Ingredion in the 4th quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of Ingredion in the 4th quarter valued at about $33,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after acquiring an additional 79 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Ingredion in the fourth quarter worth about $55,000. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

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

Ingredion Trading Down 0.9%

NYSE INGR traded down $1.22 during trading on Friday, hitting $138.22. The stock had a trading volume of 387,832 shares, compared to its average volume of 475,068. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a one year low of $111.54 and a one year high of $155.44. The stock has a 50 day simple moving average of $134.70 and a 200 day simple moving average of $134.85.

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

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders 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 dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio (DPR) is presently 33.76%.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president now directly owns 31,996 shares of the company's stock, valued at $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company's stock.

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.