Shapiro Capital Management LLC Decreases Stake in Ingredion Incorporated (NYSE:INGR)

Shapiro Capital Management LLC lessened its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 60.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 153,084 shares of the company's stock after selling 236,562 shares during the quarter. Shapiro Capital Management LLC owned 0.23% of Ingredion worth $21,058,000 as of its most recent filing with the SEC.

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

Ingredion Trading Up 2.6%

NYSE:INGR opened at $138.75 on Friday. The stock's 50 day simple moving average is $132.05 and its 200-day simple moving average is $135.65. Ingredion Incorporated has a 12-month low of $111.54 and a 12-month high of $155.44. The firm has a market cap of $8.92 billion, a P/E ratio of 14.29, a PEG ratio of 1.03 and a beta of 0.73. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.53. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. Ingredion's quarterly revenue was down 3.7% on a year-over-year basis. Equities analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Tuesday, April 1st. Ingredion's dividend payout ratio is presently 33.76%.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the sale, the senior vice president now owns 31,996 shares in the company, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,215 shares of company stock valued at $1,687,360. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

INGR has been the topic of several research analyst reports. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. BMO Capital Markets cut their price target 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. Oppenheimer dropped their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Stephens dropped their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Finally, UBS Group set a $155.00 target price on Ingredion in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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