New Age Alpha Advisors LLC Cuts Stake 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 lowered its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Ingredion by 327.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock valued at $73,101,000 after buying an additional 407,027 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after buying an additional 361,584 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Ingredion by 536.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock valued at $49,680,000 after buying an additional 304,421 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Ingredion during the fourth quarter valued at approximately $31,752,000. Finally, GAMMA Investing LLC boosted its position in shares of Ingredion by 11,870.4% during the first quarter. GAMMA Investing LLC now owns 163,875 shares of the company's stock valued at $221,580,000 after buying an additional 162,506 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on INGR shares. UBS Group boosted their target price on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Oppenheimer dropped their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report 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 analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.40.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 850 shares of the business'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 transaction, the senior vice president owned 31,171 shares of the company's stock, valued at $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Ingredion Trading Up 0.1%

Shares of Ingredion stock traded up $0.08 on Friday, hitting $126.35. 345,997 shares of the company traded hands, compared to its average volume of 512,299. The stock's 50 day moving average price is $134.89 and its 200-day moving average price is $133.28. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The company has a market cap of $8.13 billion, a PE ratio of 12.33, a PEG ratio of 1.01 and a beta of 0.71.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.09. The firm had revenue of $1.83 billion during 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 was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.87 earnings per share. Equities research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

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