Two Sigma Advisers LP Buys 3,600 Shares of Ingredion Incorporated (NYSE:INGR)

Two Sigma Advisers LP increased its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 38.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,900 shares of the company's stock after buying an additional 3,600 shares during the period. Two Sigma Advisers LP's holdings in Ingredion were worth $1,775,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Barclays PLC grew its holdings in Ingredion by 31.9% in the third quarter. Barclays PLC now owns 47,291 shares of the company's stock worth $6,499,000 after purchasing an additional 11,432 shares during the period. Janney Montgomery Scott LLC grew its holdings in Ingredion by 16.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,134 shares of the company's stock worth $4,008,000 after purchasing an additional 4,123 shares during the period. Exchange Traded Concepts LLC grew its holdings in Ingredion by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,535 shares of the company's stock worth $761,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. grew its holdings in Ingredion by 39.5% in the fourth quarter. Blue Trust Inc. now owns 1,874 shares of the company's stock worth $258,000 after purchasing an additional 531 shares during the period. Finally, KBC Group NV grew its holdings in Ingredion by 45.7% in the fourth quarter. KBC Group NV now owns 2,515 shares of the company's stock worth $346,000 after purchasing an additional 789 shares during the period. Institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INGR. Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Oppenheimer reduced their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. BMO Capital Markets reduced their price objective 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, Wall Street Zen cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $152.20.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the firm's stock in a transaction on 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 transaction, the senior vice president now directly owns 31,996 shares of the company's stock, valued at $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Ingredion Stock Down 0.1%

Ingredion stock traded down $0.08 during midday trading on Tuesday, hitting $138.87. 19,575 shares of the stock were exchanged, compared to its average volume of 470,607. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44. The business's 50-day moving average price is $133.66 and its 200-day moving average price is $135.11.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.44 by $0.53. The business 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%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. On average, research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be paid a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.30%. Ingredion's dividend payout ratio is currently 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.