Ingredion Incorporated (NYSE:INGR) Shares Purchased by State of Wyoming

State of Wyoming increased its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 41.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,191 shares of the company's stock after purchasing an additional 1,809 shares during the quarter. State of Wyoming's holdings in Ingredion were worth $852,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. BOK Financial Private Wealth Inc. acquired a new position in shares of Ingredion during the fourth quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion in the fourth quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after acquiring an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after acquiring an additional 79 shares in the last quarter. Finally, Crews Bank & Trust purchased a new position in Ingredion in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Stock Performance

Shares of INGR stock traded down $1.06 during midday trading on Friday, hitting $136.18. The company had a trading volume of 64,491 shares, compared to its average volume of 469,149. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company's 50 day simple moving average is $132.84 and its 200 day simple moving average is $135.86. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.53. The firm had revenue of $1.81 billion for 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% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. 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 declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors 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 yield of 2.35%. Ingredion's dividend payout ratio is currently 33.76%.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president now owns 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on INGR shares. Stephens lowered their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Wall Street Zen upgraded Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Monday. UBS Group set a $155.00 price target on shares of Ingredion in a research note on Tuesday, April 22nd. BMO Capital Markets lowered their target price on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Finally, Oppenheimer cut their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.