Ingredion Incorporated (NYSE:INGR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 187,468 shares of the company's stock after selling 6,824 shares during the period. Rhumbline Advisers owned approximately 0.29% of Ingredion worth $25,347,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in INGR. Barclays PLC boosted its holdings in shares of Ingredion by 31.9% in the 3rd quarter. Barclays PLC now owns 47,291 shares of the company's stock valued at $6,499,000 after purchasing an additional 11,432 shares during the last quarter. Caprock Group LLC acquired a new position in Ingredion in the fourth quarter valued at $264,000. U.S. Capital Wealth Advisors LLC boosted its holdings in Ingredion by 17.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,106 shares of the company's stock valued at $290,000 after acquiring an additional 315 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ingredion by 124.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,214 shares of the company's stock valued at $2,362,000 after acquiring an additional 9,535 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of Ingredion in the 4th quarter valued at about $369,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Trading Down 0.3%

NYSE INGR opened at $136.76 on Friday. The company's fifty day simple moving average is $133.80 and its 200-day simple moving average is $135.13. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.80 billion, a P/E ratio of 14.08, a PEG ratio of 1.03 and a beta of 0.73.

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

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, July 1st. Ingredion's payout ratio is 33.76%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Oppenheimer reduced their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, UBS Group set a $155.00 price target on shares of Ingredion in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $152.20.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00. Following the sale, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

Ingredion Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.