IVY Lane Capital Management LLC Grows Stock Holdings in Ingredion Incorporated (NYSE:INGR)

IVY Lane Capital Management LLC raised its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 44.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,000 shares of the company's stock after acquiring an additional 22,000 shares during the quarter. Ingredion makes up 5.0% of IVY Lane Capital Management LLC's portfolio, making the stock its 9th biggest holding. IVY Lane Capital Management LLC owned approximately 0.11% of Ingredion worth $7,814,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Ingredion

In other news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $117.38, for a total transaction of $231,003.84. Following the sale, the vice president now directly owns 1,723 shares in the company, valued at approximately $202,245.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following 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 58,921 shares of company stock worth $6,903,045 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Ingredion Stock Down 1.0 %

Shares of NYSE:INGR traded down $1.19 during trading on Friday, hitting $113.29. The company's stock had a trading volume of 296,644 shares, compared to its average volume of 312,414. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $118.83. The stock's 50-day moving average price is $115.22 and its two-hundred day moving average price is $108.16. The company has a market capitalization of $7.43 billion, a PE ratio of 11.80, a PEG ratio of 1.07 and a beta of 0.81.

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

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date was Thursday, March 28th. Ingredion's payout ratio is currently 32.50%.

Wall Street Analysts Forecast Growth

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

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.