Ingredion Incorporated (NYSE:INGR) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 42.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,153 shares of the company's stock after selling 24,560 shares during the period. M&T Bank Corp owned approximately 0.05% of Ingredion worth $4,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INGR. Alpine Bank Wealth Management purchased a new position in Ingredion during the 1st quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after purchasing an additional 196 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its stake in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in shares of Ingredion during the fourth quarter worth $55,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Down 0.4%

Shares of INGR traded down $0.58 during mid-day trading on Friday, reaching $135.77. The company's stock had a trading volume of 386,288 shares, compared to its average volume of 470,617. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.85 and a quick ratio of 1.86. Ingredion Incorporated has a 12-month low of $113.94 and a 12-month high of $155.44. The stock has a market cap of $8.73 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.72. The company's 50 day moving average is $137.51 and its 200 day moving average is $133.83.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The firm's revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 earnings per share. Equities analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.36%. Ingredion's dividend payout ratio is presently 33.76%.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction dated 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 owned 31,996 shares in the company, valued at approximately $4,345,696.72. The trade was a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on INGR shares. Oppenheimer lowered their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Finally, UBS Group lifted their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.