Parvin Asset Management LLC Acquires Shares of 10,780 Ingredion Incorporated (NYSE:INGR)

Parvin Asset Management LLC acquired a new stake in Ingredion Incorporated (NYSE:INGR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,780 shares of the company's stock, valued at approximately $1,483,000. Ingredion accounts for about 1.6% of Parvin Asset Management LLC's investment portfolio, making the stock its 10th largest holding.

Several other hedge funds also recently made changes to their positions in INGR. Barclays PLC lifted its position in shares of Ingredion by 31.9% during the 3rd quarter. Barclays PLC now owns 47,291 shares of the company's stock worth $6,499,000 after buying an additional 11,432 shares during the last quarter. Fulcrum Equity Management boosted its stake in shares of Ingredion by 18.2% in the 3rd quarter. Fulcrum Equity Management now owns 4,033 shares of the company's stock valued at $554,000 after purchasing an additional 620 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Ingredion during the 3rd quarter valued at approximately $149,000. Tidal Investments LLC increased its position in Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company's stock worth $2,720,000 after purchasing an additional 94 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company's stock valued at $26,109,000 after purchasing an additional 83,708 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now directly owns 34,127 shares of the company's stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company's stock.

Ingredion Trading Up 0.3 %

INGR traded up $0.40 during trading on Monday, hitting $132.84. The company's stock had a trading volume of 174,130 shares, compared to its average volume of 465,934. The firm has a market capitalization of $8.54 billion, a P/E ratio of 13.70, a PEG ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average price is $131.11 and its 200-day moving average price is $135.54.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Tuesday, April 1st. Ingredion's payout ratio is presently 32.96%.

Analysts Set New Price Targets

INGR has been the topic of several recent research reports. Stephens cut 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. UBS Group set a $155.00 price target on Ingredion in a report on Tuesday, April 22nd. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. BMO Capital Markets reduced their target price on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Finally, Oppenheimer dropped their price target on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Ingredion currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.20.

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.