Northern Trust Corp Increases Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Northern Trust Corp grew its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 22.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 717,526 shares of the company's stock after purchasing an additional 132,151 shares during the period. Northern Trust Corp owned approximately 1.10% of Ingredion worth $98,703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Ingredion by 1.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company's stock worth $572,000 after buying an additional 74 shares during the period. EverSource Wealth Advisors LLC grew its stake in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. Mindset Wealth Management LLC increased its holdings in shares of Ingredion by 2.1% in the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after purchasing an additional 82 shares during the period. Truist Financial Corp lifted its holdings in shares of Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company's stock worth $943,000 after purchasing an additional 90 shares during the period. Finally, Transcend Capital Advisors LLC boosted its position in Ingredion by 2.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock valued at $594,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Price Performance

Shares of NYSE:INGR traded up $4.57 during trading on Tuesday, reaching $138.20. The stock had a trading volume of 833,802 shares, compared to its average volume of 470,096. The business has a fifty day moving average price of $131.16 and a 200-day moving average price of $135.53. 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 market cap of $8.89 billion, a PE ratio of 14.23, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.48. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. During the same quarter in the previous year, the company posted $2.08 EPS. The company's revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast 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 was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Tuesday, April 1st. Ingredion's dividend payout ratio is currently 32.96%.

Analyst Ratings Changes

INGR has been the subject of several research reports. BMO Capital Markets decreased 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 note on Wednesday, February 5th. UBS Group set a $155.00 price objective on Ingredion in a report on Tuesday, April 22nd. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Oppenheimer dropped their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens dropped 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 report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Ingredion has a consensus rating of "Moderate Buy" and a consensus target price of $152.20.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

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.