Vanguard Group Inc. Has $979.51 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Key Points

• Vanguard Group Inc. reduced its position in Ingredion by 0.6%, holding approximately 7.24 million shares valued at $979.51 million.
• Ingredion reported earnings per share (EPS) of $2.87 for the latest quarter, beating estimates by $0.09, but with a revenue of $1.83 billion, which was below analyst expectations.
• The company recently declared a quarterly dividend of $0.80 per share, reflecting an annualized yield of 2.5% and a payout ratio of 31.22%.

Vanguard Group Inc. trimmed its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,244,386 shares of the company's stock after selling 41,319 shares during the quarter. Vanguard Group Inc. owned 11.27% of Ingredion worth $979,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Ingredion by 1.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock worth $164,771,000 after purchasing an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock worth $162,840,000 after purchasing an additional 361,584 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ingredion by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock worth $98,347,000 after purchasing an additional 45,631 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Ingredion by 22.6% during the 4th quarter. Northern Trust Corp now owns 717,526 shares of the company's stock worth $98,703,000 after purchasing an additional 132,151 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Ingredion by 1.9% in the fourth quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock valued at $80,209,000 after buying an additional 10,703 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Trading Down 0.4%

Shares of Ingredion stock traded down $0.55 during midday trading on Friday, reaching $125.84. The company had a trading volume of 370,305 shares, compared to its average volume of 459,487. The stock has a fifty day moving average price of $133.75 and a 200 day moving average price of $132.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The firm has a market cap of $8.08 billion, a PE ratio of 12.28, a P/E/G ratio of 1.01 and a beta of 0.71. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The firm's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.87 earnings per share. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, July 1st. Ingredion's payout ratio is presently 31.22%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total value of $4,591,031.24. Following the completion of the sale, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the sale, the senior vice president owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INGR shares. Wall Street Zen lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer reduced their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group raised their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $151.40.

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.