Victory Capital Management Inc. Acquires 135,772 Shares of Ingredion Incorporated (NYSE:INGR)

Victory Capital Management Inc. boosted its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 126.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,210 shares of the company's stock after purchasing an additional 135,772 shares during the period. Victory Capital Management Inc. owned 0.38% of Ingredion worth $32,884,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INGR. Waverly Advisors LLC lifted its position in shares of 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 buying an additional 84 shares during the last quarter. Retirement Guys Formula LLC raised its position in shares of Ingredion by 5.7% in the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after purchasing an additional 84 shares during the period. Hancock Whitney Corp raised its position in shares of Ingredion by 1.6% in the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company's stock valued at $943,000 after purchasing an additional 108 shares during the period. KBC Group NV lifted its stake in shares of Ingredion by 4.3% in the first quarter. KBC Group NV now owns 2,624 shares of the company's stock worth $355,000 after buying an additional 109 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Ingredion by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 27,928 shares of the company's stock valued at $3,775,000 after buying an additional 125 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,400 shares of the 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 directly owned 31,996 shares in the company, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Ingredion Stock Performance

INGR traded down $0.21 on Wednesday, hitting $133.85. 136,441 shares of the stock traded hands, compared to its average volume of 475,273. The business has a fifty day moving average price of $137.27 and a two-hundred day moving average price of $133.63. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $8.61 billion, a PE ratio of 14.16, a P/E/G ratio of 1.06 and a beta of 0.72. Ingredion Incorporated has a 52 week low of $117.49 and a 52 week 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The business's revenue was down 3.7% on a year-over-year basis. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders 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 annualized dividend and a dividend yield of 2.39%. Ingredion's dividend payout ratio is presently 33.76%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Oppenheimer dropped their price target on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group increased their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Three investment 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. According to data from MarketBeat.com, the stock currently has an average 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.