Victory Capital Management Inc. Raises Position in Ingredion Incorporated (NYSE:INGR)

Victory Capital Management Inc. increased its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 126.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,210 shares of the company's stock after acquiring an additional 135,772 shares during the quarter. Victory Capital Management Inc. owned about 0.38% of Ingredion worth $32,884,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion in the 1st quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Ingredion by 653.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after purchasing an additional 196 shares during the period. Ameriflex Group Inc. purchased a new position in Ingredion during the fourth quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in shares of Ingredion in the 4th quarter valued at approximately $55,000. Finally, Whipplewood Advisors LLC raised its stake in shares of Ingredion by 737.3% in the 1st quarter. Whipplewood Advisors LLC now owns 427 shares of the company's stock valued at $58,000 after acquiring an additional 376 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was 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 in the company, valued at approximately $4,345,696.72. The trade was a 6.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company's stock.

Ingredion Stock Down 0.5%

Shares of NYSE:INGR traded down $0.69 during mid-day trading on Thursday, reaching $133.44. 51,620 shares of the stock were exchanged, compared to its average volume of 533,198. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. The stock's 50 day simple moving average is $137.18 and its 200-day simple moving average is $133.64. The company has a market cap of $8.58 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.07 and a beta of 0.72. Ingredion Incorporated has a one year low of $118.85 and a one year high of $155.44.

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

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st were given 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 dividend yield of 2.40%. Ingredion's dividend payout ratio (DPR) is presently 33.76%.

Analyst Upgrades and Downgrades

Several research analysts have commented on INGR shares. UBS Group boosted their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Oppenheimer lowered their price target 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, Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $151.40.

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.