Sumitomo Mitsui Trust Group Inc. Takes Position in Ingredion Incorporated (NYSE:INGR)

Sumitomo Mitsui Trust Group Inc. bought a new position in Ingredion Incorporated (NYSE:INGR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,777 shares of the company's stock, valued at approximately $646,000.

Several other large investors also recently modified their holdings of the business. BOK Financial Private Wealth Inc. purchased a new stake in Ingredion in the 4th quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new position in shares of Ingredion during the first quarter valued at approximately $26,000. 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 period. Ameriflex Group Inc. bought a new stake in Ingredion in the fourth quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Ingredion by 32.4% in 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. 85.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INGR has been the subject of several research analyst reports. Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. Finally, Oppenheimer cut their price objective 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 research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Ingredion presently has a consensus rating of "Moderate Buy" and an average target price of $152.20.

Insider Buying and Selling

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

Ingredion Stock Down 0.6%

Shares of Ingredion stock opened at $137.35 on Friday. Ingredion Incorporated has a 1 year low of $111.93 and a 1 year high of $155.44. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.10 and a beta of 0.72. The company has a 50-day moving average of $137.07 and a 200 day moving average of $133.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.85 and a quick ratio of 1.86.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.53% and a return on equity of 19.75%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the company earned $2.08 earnings per share. The business's revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business 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 dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's payout ratio is 33.76%.

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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