CoreCommodity Management LLC Sells 2,361 Shares of Ingredion Incorporated (NYSE:INGR)

CoreCommodity Management LLC cut its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,694 shares of the company's stock after selling 2,361 shares during the period. Ingredion accounts for 1.2% of CoreCommodity Management LLC's portfolio, making the stock its 5th largest holding. CoreCommodity Management LLC owned 0.07% of Ingredion worth $6,011,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in Ingredion by 10.9% in the 4th quarter. Cetera Investment Advisers now owns 11,895 shares of the company's stock valued at $1,636,000 after acquiring an additional 1,171 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Ingredion in the 4th quarter worth $384,000. BOKF NA grew its stake in shares of Ingredion by 200.1% in the 4th quarter. BOKF NA now owns 56,572 shares of the company's stock worth $7,400,000 after buying an additional 37,718 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Ingredion in the 4th quarter worth $733,000. Finally, Captrust Financial Advisors boosted its stake in shares of Ingredion by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 4,266 shares of the company's stock worth $587,000 after purchasing an additional 176 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Performance

INGR stock traded down $0.40 on Monday, hitting $136.77. The company's stock had a trading volume of 105,244 shares, compared to its average volume of 467,750. The firm has a 50 day moving average of $131.72 and a two-hundred day moving average of $135.59. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

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 analysts' consensus estimates of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. Equities analysts predict 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 was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were given a $0.80 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.34%. Ingredion's dividend payout ratio is presently 33.76%.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,400 shares of the company'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 sale, the senior vice president now directly owns 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. This represents a 24.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,215 shares of company stock valued at $1,687,360. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INGR shares. Oppenheimer decreased 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 research note on Tuesday, April 22nd. BMO Capital Markets dropped their target price on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Stephens cut their price objective on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.20.

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.