LSV Asset Management Has $274.26 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Key Points

• LSV Asset Management has reduced its stake in Ingredion Incorporated by 1.1%, owning 2,028,431 shares valued at approximately $274 million.
• Ingredion reported a Q2 EPS of $2.87, exceeding expectations, but experienced a 2.4% decline in year-over-year revenue, totaling $1.83 billion.
• The company announced a quarterly dividend of $0.80 per share, representing an annualized yield of 2.5% with a payout ratio of 33.76%.

LSV Asset Management cut its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,028,431 shares of the company's stock after selling 21,818 shares during the quarter. LSV Asset Management owned about 3.15% of Ingredion worth $274,264,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in Ingredion by 1.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock worth $164,771,000 after acquiring an additional 22,333 shares during the period. Allianz Asset Management GmbH increased its holdings in Ingredion by 42.9% in the 1st 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. Geode Capital Management LLC increased its holdings in Ingredion by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company's stock valued at $162,703,000 after buying an additional 14,741 shares during the period. Invesco Ltd. increased its holdings in Ingredion by 5.7% in the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company's stock valued at $119,721,000 after buying an additional 46,819 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Ingredion by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock valued at $98,347,000 after buying an additional 45,631 shares during the period. Institutional investors own 85.27% of the company's stock.

Analysts Set New Price Targets

INGR has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Oppenheimer reduced their target price 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. Finally, UBS Group upped their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $151.40.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the sale, the senior vice president directly owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Ingredion Trading Down 0.9%

Ingredion stock traded down $1.10 during trading hours on Wednesday, reaching $125.20. 438,006 shares of the company's stock traded hands, compared to its average volume of 535,156. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.01 and a beta of 0.71. The firm's 50 day moving average is $135.64 and its 200-day moving average is $133.47.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. The business had revenue of $1.83 billion for 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%. Ingredion's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $2.87 EPS. On average, analysts predict 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 was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, July 1st. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

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.