Ingredion Incorporated (NYSE:INGR) is CoreCommodity Management LLC's 5th Largest Position

CoreCommodity Management LLC trimmed its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,694 shares of the company's stock after selling 2,361 shares during the period. Ingredion comprises about 1.2% of CoreCommodity Management LLC's portfolio, making the stock its 5th biggest position. CoreCommodity Management LLC owned 0.07% of Ingredion worth $6,011,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in Ingredion during the 4th quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Ingredion during the fourth quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Ingredion during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer cut their price target on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. BMO Capital Markets reduced their price target on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Stephens decreased their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. UBS Group set a $155.00 price objective on shares of Ingredion in a research note on Tuesday, April 22nd. Finally, StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.20.

Ingredion Trading Up 3.4 %

Shares of Ingredion stock opened at $138.20 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44. The company's 50-day simple moving average is $131.32 and its 200-day simple moving average is $135.55.

Ingredion (NYSE:INGR - Get Free Report) last posted 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. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the firm earned $2.08 EPS. The company's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.32%. Ingredion's dividend payout ratio is presently 32.96%.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the sale, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company's stock.

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.

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