Voya Investment Management LLC Trims Stock Position in Ingredion Incorporated (NYSE:INGR)

Voya Investment Management LLC trimmed its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,971 shares of the company's stock after selling 3,361 shares during the period. Voya Investment Management LLC owned approximately 0.18% of Ingredion worth $16,503,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Ingredion during the fourth quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Ingredion during the fourth quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ingredion by 653.3% during 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 holdings in shares of 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 buying an additional 79 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Ingredion during the fourth quarter worth approximately $48,000. 85.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction dated 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 owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

INGR has been the topic of a number of recent analyst reports. Stephens reduced their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Oppenheimer cut their target price on shares of 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. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, UBS Group set a $155.00 target price on shares of Ingredion in a research report on Tuesday, April 22nd. 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $152.20.

Ingredion Stock Performance

Shares of INGR stock traded up $0.78 during trading hours on Wednesday, reaching $132.93. The stock had a trading volume of 492,178 shares, compared to its average volume of 464,559. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The firm has a 50-day simple moving average of $131.00 and a 200-day simple moving average of $135.59. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The firm has a market capitalization of $8.55 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72.

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, beating the consensus estimate of $2.54 by $0.09. The business had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. As a group, equities analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.41%. The ex-dividend date was Tuesday, April 1st. Ingredion's dividend payout ratio is 32.96%.

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.