Rhumbline Advisers Has $25.35 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Rhumbline Advisers trimmed its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,468 shares of the company's stock after selling 6,824 shares during the period. Rhumbline Advisers owned 0.29% of Ingredion worth $25,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Ingredion by 31.9% during the 3rd quarter. Barclays PLC now owns 47,291 shares of the company's stock worth $6,499,000 after purchasing an additional 11,432 shares during the period. Caprock Group LLC bought a new position in shares of Ingredion during the 4th quarter worth about $264,000. U.S. Capital Wealth Advisors LLC boosted its position in shares of Ingredion by 17.6% during the 4th 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 period. Finally, Choreo LLC bought a new position in Ingredion during the fourth quarter worth about $369,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Up 0.2%

Shares of NYSE INGR traded up $0.26 during mid-day trading on Monday, hitting $138.26. The company had a trading volume of 250,690 shares, compared to its average volume of 472,902. The company has a market capitalization of $8.89 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a one year low of $111.54 and a one year high of $155.44. The firm has a 50-day simple moving average of $133.90 and a two-hundred day simple moving average of $134.93.

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 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 business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business earned $2.08 EPS. Ingredion's quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.31%. Ingredion's dividend payout ratio is currently 33.76%.

Wall Street Analyst Weigh In

INGR has been the subject of several recent analyst reports. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Oppenheimer cut their price objective 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. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ingredion has a consensus rating of "Moderate Buy" and a consensus price target of $152.20.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the firm'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 completion of the sale, the senior vice president now owns 31,996 shares of the company's stock, valued at $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.30% of the company's stock.

About Ingredion

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.