Ingredion Incorporated (NYSE:INGR) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 24.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,953 shares of the company's stock after acquiring an additional 5,215 shares during the period. Oppenheimer & Co. Inc.'s holdings in Ingredion were worth $3,644,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in INGR. Truist Financial Corp increased its position in shares of Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company's stock valued at $943,000 after acquiring an additional 90 shares during the last quarter. Wealthspire Advisors LLC purchased a new position in shares of Ingredion during the 4th quarter worth approximately $219,000. Y Intercept Hong Kong Ltd acquired a new stake in Ingredion in the 4th quarter valued at approximately $503,000. FourThought Financial Partners LLC acquired a new stake in Ingredion in the 4th quarter valued at approximately $251,000. Finally, Amalgamated Bank raised its position in Ingredion by 1.8% in the fourth quarter. Amalgamated Bank now owns 31,590 shares of the company's stock valued at $4,346,000 after purchasing an additional 551 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction on 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 now directly owns 31,996 shares in the company, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

Ingredion Stock Up 0.3%

Shares of Ingredion stock traded up $0.43 during trading hours on Friday, reaching $135.82. 642,943 shares of the company were exchanged, compared to its average volume of 472,290. The firm has a market cap of $8.73 billion, a PE ratio of 14.33, a PEG ratio of 1.09 and a beta of 0.73. 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 1 year low of $111.54 and a 1 year high of $155.44. The stock's fifty day moving average is $136.36 and its 200 day moving average is $134.02.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. As a group, equities research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

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

Analyst Ratings Changes

INGR has been the topic of a number of research reports. UBS Group set a $155.00 price target on Ingredion in a research note on Tuesday, April 22nd. 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 research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $152.20.

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.