Ingredion Incorporated (NYSE:INGR) Shares Sold by Paradiem LLC

Paradiem LLC lessened its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 holdings, making the stock its 13th biggest holding. Paradiem LLC owned about 0.13% of Ingredion worth $11,110,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Covea Finance raised its stake in shares of Ingredion by 4.8% in the 1st quarter. Covea Finance now owns 52,500 shares of the company's stock valued at $7,099,000 after purchasing an additional 2,400 shares in the last quarter. Institute for Wealth Management LLC. acquired a new stake in shares of Ingredion in the 1st quarter valued at about $226,000. State of Alaska Department of Revenue raised its stake in shares of Ingredion by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 27,928 shares of the company's stock valued at $3,775,000 after purchasing an additional 125 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Ingredion by 9.6% in the 1st quarter. QRG Capital Management Inc. now owns 14,591 shares of the company's stock valued at $1,973,000 after purchasing an additional 1,272 shares in the last quarter. Finally, RHS Financial LLC raised its stake in shares of Ingredion by 24.5% in the 1st quarter. RHS Financial LLC now owns 3,730 shares of the company's stock valued at $504,000 after purchasing an additional 734 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Buying and Selling at Ingredion

In other Ingredion 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 sale, the senior vice president now owns 31,996 shares in the company, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by company insiders.

Ingredion Price Performance

INGR opened at $137.26 on Friday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.10 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's 50-day moving average price is $135.69 and its 200 day moving average price is $134.38. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $2.08 earnings per share. Ingredion's revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be paid a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.33%. Ingredion's payout ratio is currently 33.76%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. UBS Group set a $155.00 price objective on shares of Ingredion in a research note on Tuesday, April 22nd. Finally, Oppenheimer dropped 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. Three equities 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's stock. According to data from MarketBeat, Ingredion has a consensus rating of "Moderate Buy" and a consensus target price of $152.20.

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.

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