M&T Bank Corp Has $4.48 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

M&T Bank Corp cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 42.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brown Advisory Inc. raised its holdings in Ingredion by 8.4% in the 1st quarter. Brown Advisory Inc. now owns 2,318 shares of the company's stock valued at $313,000 after acquiring an additional 180 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Ingredion by 51.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 20,549 shares of the company's stock valued at $2,778,000 after purchasing an additional 7,013 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ingredion by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock valued at $98,347,000 after purchasing an additional 45,631 shares during the last quarter. World Investment Advisors bought a new position in shares of Ingredion in the 1st quarter valued at $214,000. Finally, Impax Asset Management Group plc bought a new position in shares of Ingredion in the 1st quarter valued at $646,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday. Oppenheimer decreased their price target on 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 Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.40.

Ingredion Trading Up 0.4%

Shares of INGR stock opened at $136.57 on Friday. The firm has a market capitalization of $8.78 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.09 and a beta of 0.72. Ingredion Incorporated has a twelve month low of $113.44 and a twelve month high of $155.44. 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 fifty day simple moving average is $137.44 and its 200 day simple moving average is $133.85.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.53. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. Ingredion's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. Ingredion's dividend payout ratio (DPR) is presently 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.

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