Ingredion Incorporated (NYSE:INGR) Position Increased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,781 shares of the company's stock after purchasing an additional 8,876 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.10% of Ingredion worth $7,031,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. increased its position in Ingredion by 2.9% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 34,577 shares of the company's stock valued at $3,402,000 after purchasing an additional 990 shares during the period. Schroder Investment Management Group grew its position in shares of Ingredion by 833.7% in the 3rd quarter. Schroder Investment Management Group now owns 136,606 shares of the company's stock worth $13,442,000 after buying an additional 121,976 shares during the period. Equity Investment Corp grew its position in shares of Ingredion by 1.4% in the 3rd quarter. Equity Investment Corp now owns 908,776 shares of the company's stock worth $89,424,000 after buying an additional 12,427 shares during the period. Nordea Investment Management AB boosted its stake in Ingredion by 73.0% in the 3rd quarter. Nordea Investment Management AB now owns 752,456 shares of the company's stock worth $74,019,000 after purchasing an additional 317,509 shares in the last quarter. Finally, Horizon Family Wealth Inc. boosted its stake in Ingredion by 10.9% in the 3rd quarter. Horizon Family Wealth Inc. now owns 2,647 shares of the company's stock worth $260,000 after purchasing an additional 260 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 54,581 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the transaction, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO James P. Zallie sold 54,581 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the transaction, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Davida Marie Gable sold 1,968 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the transaction, the vice president now owns 1,723 shares in the company, valued at approximately $202,245.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,921 shares of company stock worth $6,903,045. 1.80% of the stock is currently owned by insiders.

Ingredion Price Performance

Shares of INGR stock traded up $0.77 on Wednesday, reaching $115.10. The company's stock had a trading volume of 194,547 shares, compared to its average volume of 393,646. The stock's fifty day simple moving average is $115.16 and its 200-day simple moving average is $107.75. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $118.83. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81.

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

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st were given a dividend of $0.78 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. Ingredion's dividend payout ratio (DPR) is 32.50%.

Analyst Upgrades and Downgrades

INGR has been the topic of several recent research reports. StockNews.com upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 22nd. Stephens reiterated an "overweight" rating and issued a $130.00 price objective on shares of Ingredion in a research note on Wednesday, February 7th. The Goldman Sachs Group upgraded shares of Ingredion from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Finally, Barclays increased their target price on shares of Ingredion from $115.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 6th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $126.67.

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.