Invesco Ltd. Boosts Stake in Ingredion Incorporated (NYSE:INGR)

Invesco Ltd. raised its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 870,317 shares of the company's stock after purchasing an additional 46,819 shares during the quarter. Invesco Ltd. owned 1.34% of Ingredion worth $119,721,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. acquired a new position in Ingredion in the 4th quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Ingredion in the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after buying an additional 196 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 79 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Ingredion in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INGR shares. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. UBS Group restated a "neutral" rating and set a $145.00 price objective (down previously from $165.00) on shares of Ingredion in a research report on Monday, April 7th. Stephens cut their price target 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. BMO Capital Markets dropped their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Finally, Oppenheimer decreased their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Ingredion currently has a consensus rating of "Moderate Buy" and an average price target of $152.60.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the company's 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 sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Performance

Shares of Ingredion stock traded up $1.48 on Friday, reaching $129.59. 427,913 shares of the stock were exchanged, compared to its average volume of 458,774. Ingredion Incorporated has a 1-year low of $111.49 and a 1-year high of $155.44. The business has a fifty day moving average price of $130.48 and a two-hundred day moving average price of $135.82. The firm has a market capitalization of $8.33 billion, a PE ratio of 13.35, a PEG ratio of 1.03 and a beta of 0.72. 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 results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business's revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. As a group, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, April 1st. Ingredion's payout ratio is currently 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.