LSV Asset Management Decreases Stake 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 stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,028,431 shares of the company's stock after selling 21,818 shares during the period. 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 hedge funds have also recently made changes to their positions in INGR. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after acquiring an additional 80 shares during the period. Waverly Advisors LLC lifted its stake in Ingredion by 3.8% in the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after acquiring an additional 84 shares during the period. Retirement Guys Formula LLC lifted its position in shares of Ingredion by 5.7% during the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after buying an additional 84 shares during the last quarter. Hancock Whitney Corp lifted its position in shares of Ingredion by 1.6% during the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company's stock valued at $943,000 after buying an additional 108 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Ingredion by 4.3% during the first quarter. KBC Group NV now owns 2,624 shares of the company's stock valued at $355,000 after buying an additional 109 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction 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 owned 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on INGR shares. UBS Group increased their price target on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Finally, Oppenheimer decreased their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.40.

Ingredion Stock Performance

NYSE:INGR traded down $5.14 during midday trading on Friday, hitting $126.40. The company's stock had a trading volume of 959,566 shares, compared to its average volume of 485,749. The firm has a market cap of $8.13 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.01 and a beta of 0.71. Ingredion Incorporated has a fifty-two week low of $118.85 and a fifty-two week high of $155.44. The firm's 50 day moving average is $136.12 and its 200-day moving average is $133.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. The business had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business's revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $2.87 EPS. Equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

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.