Millennium Management LLC Trims Stock Position in Ingredion Incorporated (NYSE:INGR)

Millennium Management LLC decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 82.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,641 shares of the company's stock after selling 144,811 shares during the period. Millennium Management LLC's holdings in Ingredion were worth $4,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ingredion by 502.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,254 shares of the company's stock worth $310,000 after buying an additional 1,880 shares during the period. Lazard Asset Management LLC boosted its holdings in Ingredion by 31.0% in the 4th quarter. Lazard Asset Management LLC now owns 40,611 shares of the company's stock worth $5,586,000 after buying an additional 9,612 shares during the period. Jefferies Financial Group Inc. boosted its holdings in Ingredion by 346.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 9,599 shares of the company's stock worth $1,320,000 after buying an additional 7,448 shares during the period. Gotham Asset Management LLC boosted its holdings in Ingredion by 16.7% in the 4th quarter. Gotham Asset Management LLC now owns 121,588 shares of the company's stock worth $16,726,000 after buying an additional 17,378 shares during the period. Finally, Focus Partners Wealth bought a new position in Ingredion in the 4th quarter worth $474,000. Institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday. BMO Capital Markets dropped their price objective on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Oppenheimer dropped their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. Finally, Stephens dropped their price objective on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.20.

Insider Activity

In related news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction dated 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 now directly owns 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.30% of the company's stock.

Ingredion Price Performance

Shares of NYSE INGR traded down $0.34 during mid-day trading on Tuesday, hitting $138.61. 299,353 shares of the company's stock traded hands, compared to its average volume of 472,512. The company's 50-day moving average is $133.72 and its two-hundred day moving average is $135.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company has a market capitalization of $8.91 billion, a P/E ratio of 14.28, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.53. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business's revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 EPS. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

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

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.