SG Americas Securities LLC Cuts Holdings in Ingredion Incorporated (NYSE:INGR)

SG Americas Securities LLC lowered its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 64.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,723 shares of the company's stock after selling 13,808 shares during the period. SG Americas Securities LLC's holdings in Ingredion were worth $838,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of INGR. Acadian Asset Management LLC increased its holdings in shares of Ingredion by 1,760.0% in the first quarter. Acadian Asset Management LLC now owns 1,581 shares of the company's stock valued at $137,000 after buying an additional 1,496 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ingredion by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,385 shares of the company's stock valued at $2,125,000 after purchasing an additional 2,325 shares during the period. BlackRock Inc. raised its stake in Ingredion by 1.9% during the 1st quarter. BlackRock Inc. now owns 5,790,111 shares of the company's stock valued at $504,608,000 after purchasing an additional 107,110 shares during the period. Great West Life Assurance Co. Can raised its stake in Ingredion by 14.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 42,242 shares of the company's stock valued at $3,791,000 after purchasing an additional 5,392 shares during the period. Finally, Yousif Capital Management LLC raised its stake in Ingredion by 1.2% during the 1st quarter. Yousif Capital Management LLC now owns 29,968 shares of the company's stock valued at $2,612,000 after purchasing an additional 350 shares during the period. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

INGR has been the topic of several recent analyst reports. StockNews.com raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 22nd. Barclays boosted their target price on shares of Ingredion from $115.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 6th. Stephens reissued an "overweight" rating and set a $130.00 target price on shares of Ingredion in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group raised shares of Ingredion from a "neutral" rating to a "buy" rating and upped their price target for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.67.

Insider Activity

In other news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the transaction, the senior vice president now directly owns 28,966 shares of the company's stock, valued at $3,333,407.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the sale, the senior vice president now directly owns 28,966 shares in the company, valued at approximately $3,333,407.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the sale, the vice president now owns 1,723 shares in the company, valued at $202,245.74. The disclosure for this sale can be found here. Insiders have sold 58,922 shares of company stock valued at $6,903,154 over the last three months. 1.56% of the stock is owned by insiders.

Ingredion Stock Performance

INGR stock traded down $0.85 during mid-day trading on Tuesday, reaching $116.38. 322,425 shares of the stock traded hands, compared to its average volume of 408,131. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $114.07 and a two-hundred day moving average of $106.17. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $118.83. The firm has a market capitalization of $7.64 billion, a PE ratio of 12.12, a P/E/G ratio of 1.10 and a beta of 0.81.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The business had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm's revenue was down 3.3% on a year-over-year basis. As a group, equities analysts predict that Ingredion Incorporated will post 9.62 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.68%. Ingredion's dividend payout ratio (DPR) is currently 32.50%.

Ingredion Company 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.