Penserra Capital Management LLC Sells 3,678 Shares of Ingredion Incorporated (NYSE:INGR)

Penserra Capital Management LLC trimmed its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 69.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,633 shares of the company's stock after selling 3,678 shares during the period. Penserra Capital Management LLC's holdings in Ingredion were worth $220,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP boosted its holdings in Ingredion by 1.9% during the fourth quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock valued at $80,209,000 after acquiring an additional 10,703 shares during the period. Magnetar Financial LLC lifted 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 valued at $5,230,000 after buying an additional 32,639 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Ingredion in the first quarter valued at about $646,000. Transcend Capital Advisors LLC lifted its stake in shares of Ingredion by 156.7% in the first quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company's stock valued at $1,499,000 after buying an additional 6,768 shares during the period. Finally, Prudential Financial Inc. lifted 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 valued at $89,790,000 after buying an additional 314,912 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INGR. Oppenheimer reduced their target price on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. UBS Group increased their target price on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ingredion has an average rating of "Moderate Buy" and a consensus target price of $151.40.

Ingredion Stock Performance

NYSE:INGR opened at $135.77 on Friday. Ingredion Incorporated has a 12-month low of $113.94 and a 12-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 firm has a market capitalization of $8.73 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.72. The firm has a 50-day moving average price of $137.51 and a 200 day moving average price of $133.83.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly 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 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 analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. The company's quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

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

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the sale, the senior vice president owned 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company's stock.

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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