NewEdge Wealth LLC Buys 8,141 Shares of Ingredion Incorporated (NYSE:INGR)

Key Points

• NewEdge Wealth LLC increased its stake in Ingredion Incorporated by 5.5%, owning 156,836 shares valued at approximately $21.2 million as of the latest SEC filing.
• A number of large investors have also increased their holdings in Ingredion, with Allianz Asset Management having the most significant growth at 42.9%, now owning over 1.2 million shares.
• Ingredion's stocks have dipped 3.9%, currently trading at $126.40, while the company reported earnings per share of $2.87, surpassing expectations.

NewEdge Wealth LLC increased its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 156,836 shares of the company's stock after acquiring an additional 8,141 shares during the period. NewEdge Wealth LLC owned 0.24% of Ingredion worth $21,206,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in INGR. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Ingredion by 327.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock worth $73,101,000 after buying an additional 407,027 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock worth $162,840,000 after buying an additional 361,584 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Ingredion by 536.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock worth $49,680,000 after buying an additional 304,421 shares during the period. Raymond James Financial Inc. acquired a new position in Ingredion during the fourth quarter valued at approximately $31,752,000. Finally, GAMMA Investing LLC raised its stake in Ingredion by 11,870.4% in the first quarter. GAMMA Investing LLC now owns 163,875 shares of the company's stock valued at $221,580,000 after buying an additional 162,506 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INGR. Wall Street Zen upgraded Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Oppenheimer cut their price target on 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 Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $151.40.

Ingredion Stock Performance

Shares of NYSE:INGR traded up $0.51 during midday trading on Thursday, reaching $125.69. 77,007 shares of the company traded hands, compared to its average volume of 533,588. The firm's fifty day moving average price is $135.39 and its two-hundred day moving average price is $133.41. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. Ingredion Incorporated has a 12 month low of $120.51 and a 12 month high of $155.44. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The company's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.87 EPS. On average, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, July 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. Ingredion's dividend payout ratio is 31.22%.

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.