Oppenheimer & Co. Inc. Buys 5,215 Shares of Ingredion Incorporated (NYSE:INGR)

Oppenheimer & Co. Inc. lifted its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 24.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,953 shares of the company's stock after buying an additional 5,215 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Ingredion were worth $3,644,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in Ingredion by 1.9% in the 4th quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock worth $80,209,000 after acquiring an additional 10,703 shares in the last quarter. Magnetar Financial LLC increased its stake in shares of Ingredion by 606.2% in the fourth quarter. Magnetar Financial LLC now owns 38,023 shares of the company's stock worth $5,230,000 after purchasing an additional 32,639 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Ingredion by 93.2% in the fourth quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock worth $89,790,000 after purchasing an additional 314,912 shares in the last quarter. Level Four Advisory Services LLC raised its position in shares of Ingredion by 6.7% during the 4th quarter. Level Four Advisory Services LLC now owns 35,428 shares of the company's stock valued at $4,874,000 after purchasing an additional 2,210 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Ingredion by 770.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,691 shares of the company's stock valued at $508,000 after buying an additional 3,267 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Down 2.5%

Shares of INGR stock opened at $134.08 on Thursday. The company's fifty day simple moving average is $136.12 and its two-hundred day simple moving average is $134.27. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The stock has a market cap of $8.62 billion, a P/E ratio of 14.14, a PEG ratio of 1.11 and a beta of 0.73. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The business's revenue was down 3.7% compared to the same quarter last year. 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. 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 2.39%. Ingredion's dividend payout ratio is presently 33.76%.

Insiders Place Their Bets

In related news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction dated 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 now directly owns 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports 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 dropped their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, UBS Group set a $155.00 target price on Ingredion in a research note on Tuesday, April 22nd. 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 stock. According to data from MarketBeat.com, Ingredion has an average rating of "Moderate Buy" and an average price target of $152.20.

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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