New York State Common Retirement Fund Lowers Stake in Ingredion Incorporated (NYSE:INGR)

New York State Common Retirement Fund reduced its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 40.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,741 shares of the company's stock after selling 30,600 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of Ingredion worth $6,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in Ingredion in the 1st quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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 acquiring an additional 196 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Ingredion in the fourth quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in shares of Ingredion during the fourth quarter worth about $55,000. Finally, Whipplewood Advisors LLC raised its stake in Ingredion by 737.3% during the 1st quarter. Whipplewood Advisors LLC now owns 427 shares of the company's stock valued at $58,000 after purchasing an additional 376 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Trading Down 1.0%

Shares of INGR opened at $133.16 on Monday. The stock has a market capitalization of $8.56 billion, a PE ratio of 14.05, a P/E/G ratio of 1.06 and a beta of 0.72. The company's fifty day moving average is $137.35 and its 200 day moving average is $133.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.86 and a current ratio of 2.85. Ingredion Incorporated has a fifty-two week low of $117.49 and a fifty-two week high of $155.44.

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 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 firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.08 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.40%. Ingredion's dividend payout ratio is presently 33.76%.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction on 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 owned 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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