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

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

A number of other large investors have also bought and sold shares of INGR. Proficio Capital Partners LLC acquired a new stake in Ingredion during the 4th quarter valued at $3,633,000. Raymond James Financial Inc. bought a new position in shares of Ingredion in the fourth quarter worth $31,752,000. AlphaQuest LLC grew its position in Ingredion by 286.8% in the fourth quarter. AlphaQuest LLC now owns 2,429 shares of the company's stock valued at $334,000 after acquiring an additional 1,801 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ingredion by 24.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,491 shares of the company's stock valued at $2,269,000 after acquiring an additional 3,292 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Ingredion by 3.6% in the fourth quarter. HighTower Advisors LLC now owns 15,879 shares of the company's stock valued at $2,184,000 after acquiring an additional 557 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group boosted their price target on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Oppenheimer reduced 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, Wall Street Zen raised 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 given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Ingredion has an average rating of "Moderate Buy" and a consensus price target of $151.40.

Ingredion Trading Down 1.3%

INGR traded down $1.71 during trading on Tuesday, hitting $134.39. The company's stock had a trading volume of 233,077 shares, compared to its average volume of 470,061. Ingredion Incorporated has a twelve month low of $113.94 and a twelve 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 stock's fifty day moving average price is $137.51 and its 200-day moving average price is $133.75. The firm has a market capitalization of $8.64 billion, a P/E ratio of 14.18, a PEG ratio of 1.09 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. Ingredion's revenue for the quarter was down 3.7% on a year-over-year basis. Analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.38%. Ingredion's dividend payout ratio (DPR) is presently 33.76%.

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.