The Manufacturers Life Insurance Company Reduces Position in Ingredion Incorporated (NYSE:INGR)

The Manufacturers Life Insurance Company cut its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,718 shares of the company's stock after selling 7,827 shares during the quarter. The Manufacturers Life Insurance Company owned 0.16% of Ingredion worth $14,405,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new position in Ingredion in the fourth quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion in the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after buying an additional 196 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ingredion by 32.4% in the fourth 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 purchased a new stake in Ingredion during the 4th quarter worth approximately $48,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on INGR shares. Stephens decreased their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. StockNews.com cut 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 research report on Wednesday, February 5th. Oppenheimer cut their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group set a $155.00 price target on shares of Ingredion in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company 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 the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 34,127 shares in the company, 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 through this link. 1.80% of the stock is currently owned by insiders.

Ingredion Trading Up 3.4 %

INGR traded up $4.57 during trading on Tuesday, hitting $138.20. The company's stock had a trading volume of 833,802 shares, compared to its average volume of 470,096. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The firm has a market capitalization of $8.89 billion, a P/E ratio of 14.23, a PEG ratio of 1.03 and a beta of 0.73. 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 $131.16 and its 200-day moving average price is $135.53.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.49 by $0.48. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 earnings per share. Analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, April 1st. Ingredion's payout ratio is currently 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.