Ingredion Incorporated (NYSE:INGR) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,297 shares of the company's stock after selling 3,819 shares during the period. State of Tennessee Department of Treasury's holdings in Ingredion were worth $3,755,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Ingredion in the fourth quarter worth approximately $96,012,000. Assetmark Inc. lifted its position in shares of Ingredion by 38,341.7% in the fourth quarter. Assetmark Inc. now owns 509,352 shares of the company's stock worth $70,067,000 after buying an additional 508,027 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Ingredion in the 4th quarter worth approximately $58,642,000. Prudential Financial Inc. raised its stake in Ingredion by 93.2% during the fourth quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock valued at $89,790,000 after purchasing an additional 314,912 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock valued at $260,056,000 after acquiring an additional 268,389 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

Ingredion Stock Performance

Shares of INGR traded up $0.78 during trading hours on Wednesday, reaching $132.93. 492,178 shares of the company traded hands, compared to its average volume of 463,513. The stock has a market capitalization of $8.55 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.03 and a beta of 0.72. 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 business has a fifty day moving average price of $131.00 and a 200-day moving average price of $135.59. Ingredion Incorporated has a 12-month low of $111.54 and a 12-month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm posted $1.65 EPS. Ingredion's revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Tuesday, April 1st. Ingredion's payout ratio is presently 32.96%.

Wall Street Analysts Forecast Growth

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

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.