Teacher Retirement System of Texas Lowers Position in Ingredion Incorporated (NYSE:INGR)

Teacher Retirement System of Texas lessened its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 28.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,069 shares of the company's stock after selling 21,210 shares during the period. Teacher Retirement System of Texas owned 0.08% of Ingredion worth $7,311,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. US Bancorp DE lifted its holdings in Ingredion by 1.0% in the fourth quarter. US Bancorp DE now owns 16,238 shares of the company's stock valued at $2,234,000 after buying an additional 161 shares during the period. Jones Financial Companies Lllp lifted its holdings in Ingredion by 37.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,648 shares of the company's stock valued at $639,000 after buying an additional 1,278 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Ingredion by 770.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,691 shares of the company's stock valued at $508,000 after buying an additional 3,267 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Ingredion by 74.5% during the fourth quarter. Victory Capital Management Inc. now owns 107,438 shares of the company's stock valued at $14,779,000 after purchasing an additional 45,863 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Ingredion during the fourth quarter valued at about $3,633,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INGR shares. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Oppenheimer dropped their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $152.20.

Insiders Place Their Bets

In other Ingredion 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 transaction of $325,968.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company's stock.

Ingredion Stock Down 0.6%

Shares of NYSE:INGR traded down $0.86 during midday trading on Friday, hitting $137.35. 226,583 shares of the company's stock were exchanged, compared to its average volume of 469,192. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.85 and a quick ratio of 1.86. The stock has a 50 day moving average price of $137.07 and a 200-day moving average price of $133.88. The company has a market cap of $8.83 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.10 and a beta of 0.72. Ingredion Incorporated has a 12 month low of $111.93 and a 12 month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business 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 $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 dividend yield of 2.33%. 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.