Transcend Capital Advisors LLC Has $1.50 Million Position in Ingredion Incorporated (NYSE:INGR)

Transcend Capital Advisors LLC lifted its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 156.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,086 shares of the company's stock after purchasing an additional 6,768 shares during the quarter. Transcend Capital Advisors LLC's holdings in Ingredion were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Ingredion in the fourth quarter valued at approximately $96,012,000. Assetmark Inc. lifted its position in Ingredion by 38,341.7% in the 4th quarter. Assetmark Inc. now owns 509,352 shares of the company's stock valued at $70,067,000 after acquiring an additional 508,027 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Ingredion by 327.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock valued at $73,101,000 after acquiring an additional 407,027 shares in the last quarter. Prudential Financial Inc. boosted its stake in Ingredion by 93.2% in the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock worth $89,790,000 after purchasing an additional 314,912 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in Ingredion by 536.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock worth $49,680,000 after purchasing an additional 304,421 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,400 shares of Ingredion 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Ingredion Trading Up 0.3%

Ingredion stock opened at $135.82 on Friday. 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 firm has a 50-day moving average of $136.23 and a 200-day moving average of $134.22. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.09 and a beta of 0.73. Ingredion Incorporated has a one year low of $111.54 and a one year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The business's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. On average, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors 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 annualized dividend and a dividend yield of 2.36%. Ingredion's dividend payout ratio is presently 33.76%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.