Ingredion Incorporated (NYSE:INGR) Shares Sold by Man Group plc

Man Group plc cut its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 57.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,909 shares of the company's stock after selling 183,197 shares during the quarter. Man Group plc owned approximately 0.21% of Ingredion worth $18,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of INGR. Barclays PLC raised its holdings in Ingredion by 31.9% in the 3rd quarter. Barclays PLC now owns 47,291 shares of the company's stock worth $6,499,000 after acquiring an additional 11,432 shares during the last quarter. Park Avenue Securities LLC grew its position in Ingredion by 12.8% in the 4th quarter. Park Avenue Securities LLC now owns 3,865 shares of the company's stock worth $532,000 after purchasing an additional 440 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Ingredion by 31.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,275 shares of the company's stock valued at $726,000 after acquiring an additional 1,272 shares during the period. Ritholtz Wealth Management grew its position in shares of Ingredion by 46.8% during the 4th quarter. Ritholtz Wealth Management now owns 16,636 shares of the company's stock valued at $2,288,000 after acquiring an additional 5,303 shares during the period. Finally, Hennessy Advisors Inc. bought a new stake in shares of Ingredion during the 4th quarter valued at $58,642,000. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Up 0.6%

INGR traded up $0.86 during trading on Tuesday, hitting $140.94. The stock had a trading volume of 460,130 shares, compared to its average volume of 469,830. The company has a market capitalization of $9.06 billion, a PE ratio of 14.51, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The stock has a 50 day simple moving average of $132.41 and a two-hundred day simple moving average of $135.78.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.27%. Ingredion's dividend payout ratio (DPR) is presently 33.76%.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders sold a total of 13,215 shares of company stock valued at $1,687,360 over the last 90 days. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

INGR has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective 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 raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Monday. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. Stephens decreased their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Finally, Oppenheimer reduced their price objective 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. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.