Squarepoint Ops LLC Buys 117,709 Shares of Ingredion Incorporated (NYSE:INGR)

Squarepoint Ops LLC boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 1,252.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,111 shares of the company's stock after buying an additional 117,709 shares during the quarter. Squarepoint Ops LLC owned approximately 0.20% of Ingredion worth $17,485,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC grew its stake in Ingredion by 1.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company's stock valued at $572,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after acquiring an additional 79 shares in the last quarter. Mindset Wealth Management LLC grew its stake in Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after acquiring an additional 82 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock valued at $594,000 after acquiring an additional 90 shares in the last quarter. Finally, Truist Financial Corp grew its stake in 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 in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on INGR shares. Stephens cut their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets cut their target price on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. UBS Group set a $155.00 price objective on shares of Ingredion in a research report on Tuesday, April 22nd. Oppenheimer lowered their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 19th. Three equities 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. According to data from MarketBeat.com, Ingredion presently has a consensus rating of "Moderate Buy" and an average price target of $152.20.

Ingredion Price Performance

INGR stock traded up $1.87 during trading on Tuesday, hitting $138.56. 78,507 shares of the company's stock traded hands, compared to its average volume of 566,463. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The business has a fifty day simple moving average of $133.03 and a 200 day simple moving average of $135.43. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.03 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. As a group, research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.31%. Ingredion's dividend payout ratio (DPR) is presently 33.76%.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the firm's 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 completion of the sale, the senior vice president now owns 31,996 shares in the company, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company's stock.

About Ingredion

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.