Paradiem LLC Sells 7,451 Shares of Ingredion Incorporated (NYSE:INGR)

Paradiem LLC cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,169 shares of the company's stock after selling 7,451 shares during the quarter. Ingredion makes up approximately 3.1% of Paradiem LLC's investment portfolio, making the stock its 13th largest holding. Paradiem LLC owned approximately 0.13% of Ingredion worth $11,110,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INGR. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ingredion during the 4th quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ingredion by 653.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after buying an additional 196 shares in the last quarter. Ameriflex Group Inc. bought a new position in Ingredion in the 4th quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 79 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Ingredion in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on INGR. Oppenheimer reduced their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. UBS Group set a $155.00 price objective on Ingredion in a research note on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $152.20.

Insider Activity

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

Ingredion Stock Down 2.5%

Ingredion stock traded down $3.42 during midday trading on Wednesday, hitting $134.08. 524,757 shares of the stock were exchanged, compared to its average volume of 471,653. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. The business's 50-day moving average price is $136.12 and its 200-day moving average price is $134.27. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.53. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The company's revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.08 earnings per share. On average, research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Tuesday, July 1st. Ingredion's payout ratio is 33.76%.

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.