Vest Financial LLC Buys New Shares in Ingredion Incorporated (NYSE:INGR)

Vest Financial LLC acquired a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 18,497 shares of the company's stock, valued at approximately $2,501,000.

Several other large investors have also bought and sold shares of INGR. EverSource Wealth Advisors LLC boosted its stake in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after acquiring an additional 79 shares in the last quarter. Mindset Wealth Management LLC lifted its holdings in shares of Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after purchasing an additional 82 shares during the last quarter. Waverly Advisors LLC boosted its position in shares of Ingredion by 3.8% in the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after purchasing an additional 84 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Ingredion by 2.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock worth $594,000 after buying an additional 90 shares during the last quarter. Finally, Truist Financial Corp increased its position in Ingredion by 1.3% during the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company's stock valued at $943,000 after buying an additional 90 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the sale, the senior vice president now owns 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INGR has been the topic of several analyst reports. UBS Group set a $155.00 target price on Ingredion in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, 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 research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Ingredion currently has an average rating of "Moderate Buy" and an average price target of $152.20.

Ingredion Stock Performance

Shares of NYSE:INGR traded up $0.26 during midday trading on Monday, reaching $138.26. 250,690 shares of the company's stock traded hands, compared to its average volume of 472,902. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a one year low of $111.54 and a one year high of $155.44. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.03 and a beta of 0.73. The stock has a 50 day moving average of $133.90 and a 200 day moving average of $134.93.

Ingredion (NYSE:INGR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.53. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 EPS. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced 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. This represents a $3.20 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio is currently 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.