Ingredion Incorporated (NYSE:INGR) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,318 shares of the company's stock after selling 15,589 shares during the period. Martingale Asset Management L P owned about 0.28% of Ingredion worth $25,355,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Ingredion during the 4th quarter worth approximately $96,012,000. Assetmark Inc. grew its position in shares of Ingredion by 38,341.7% during the fourth quarter. Assetmark Inc. now owns 509,352 shares of the company's stock worth $70,067,000 after acquiring an additional 508,027 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Ingredion in the 4th quarter valued at $58,642,000. Prudential Financial Inc. raised its position in Ingredion by 93.2% in the 4th 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 during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Ingredion by 16.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock worth $260,056,000 after purchasing an additional 268,389 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity at Ingredion

In other Ingredion 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 value of $1,361,392.20. Following the sale, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

Ingredion Price Performance

Shares of Ingredion stock traded up $1.09 during trading on Monday, hitting $131.04. 51,202 shares of the company were exchanged, compared to its average volume of 458,225. The firm has a 50 day moving average price of $130.28 and a 200 day moving average price of $136.01. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 13.50, 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. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44.

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

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion's payout ratio is 32.96%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group reiterated a "neutral" rating and issued a $145.00 price objective (down from $165.00) on shares of Ingredion in a research report on Monday, April 7th. Stephens lowered their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Oppenheimer dropped their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $152.60.

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.