New Age Alpha Advisors LLC Decreases Holdings in Ingredion Incorporated (NYSE:INGR)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Ingredion Incorporated by 18.2%, owning 35,584 shares worth approximately $4.81 million as of the latest SEC disclosure.
• The company reported quarterly earnings of $2.87 EPS, beating expectations, but with revenue slightly below forecasts at $1.83 billion, reflecting a 2.4% year-over-year decline.
• Ingredion announced a quarterly dividend of $0.80, yielding 2.5%, with a payout ratio of 31.22%, highlighting its commitment to returning value to shareholders.

New Age Alpha Advisors LLC reduced its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,584 shares of the company's stock after selling 7,898 shares during the period. New Age Alpha Advisors LLC owned approximately 0.06% of Ingredion worth $4,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in shares of Ingredion by 1.9% in the 4th quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock worth $80,209,000 after buying an additional 10,703 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Ingredion in the 1st quarter worth about $646,000. Jupiter Asset Management Ltd. increased its holdings in shares of Ingredion by 38.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company's stock worth $46,268,000 after buying an additional 94,575 shares during the last quarter. Brown Advisory Inc. grew its holdings in Ingredion by 8.4% during the 1st quarter. Brown Advisory Inc. now owns 2,318 shares of the company's stock valued at $313,000 after purchasing an additional 180 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its holdings in Ingredion by 156.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company's stock valued at $1,499,000 after purchasing an additional 6,768 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the sale, the senior vice president owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on INGR shares. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday. Oppenheimer cut their price target 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. Finally, UBS Group upped their price target on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.40.

Ingredion Trading Up 0.1%

INGR stock traded up $0.08 during mid-day trading on Friday, reaching $126.35. The company had a trading volume of 345,997 shares, compared to its average volume of 512,299. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The company has a market capitalization of $8.13 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The firm has a 50 day moving average of $134.89 and a 200 day moving average of $133.26. Ingredion Incorporated has a 12 month low of $120.51 and a 12 month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.87 EPS. On average, equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 1st. Ingredion's dividend payout ratio is presently 31.22%.

Ingredion 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.