Ingredion Incorporated (NYSE:INGR) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. increased its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 27.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,511 shares of the company's stock after purchasing an additional 8,131 shares during the period. Pinebridge Investments L.P. owned approximately 0.06% of Ingredion worth $5,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ingredion in the fourth quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Ingredion during the fourth quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC increased its stake in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Ingredion during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

INGR has been the topic of a number of recent research reports. BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. UBS Group set a $155.00 target price on shares of Ingredion in a report on Tuesday, April 22nd. Stephens lowered their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Finally, Oppenheimer reduced their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $152.20.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Ingredion Stock Up 0.4 %

Shares of NYSE INGR traded up $0.55 during mid-day trading on Wednesday, reaching $132.70. The company had a trading volume of 73,461 shares, compared to its average volume of 461,875. The firm has a 50 day simple moving average of $131.00 and a two-hundred day simple moving average of $135.59. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.53 billion, a P/E ratio of 13.67, a PEG ratio of 1.03 and a beta of 0.72.

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

Ingredion Dividend Announcement

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

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.