Ingredion Incorporated (NYSE:INGR) Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the 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 about 0.16% of Ingredion worth $14,405,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INGR. UBS Group set a $155.00 price objective on shares of Ingredion in a research report on Tuesday, April 22nd. BMO Capital Markets lowered their target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Stephens dropped their price target on 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 lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Oppenheimer dropped their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $152.20.

Ingredion Trading Up 0.3 %

NYSE:INGR traded up $0.47 during mid-day trading on Friday, reaching $137.70. The company's stock had a trading volume of 110,690 shares, compared to its average volume of 467,767. The stock has a market cap of $8.85 billion, a P/E ratio of 14.18, a P/E/G 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 debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company's fifty day simple moving average is $131.56 and its two-hundred day simple moving average is $135.58.

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

Ingredion Dividend Announcement

The company 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. The ex-dividend date was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.32%. Ingredion's payout ratio is currently 33.76%.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 owns 34,127 shares of the company's stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Larry Fernandes sold 2,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 directly owns 31,996 shares in the company, valued at approximately $4,345,696.72. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,215 shares of company stock worth $1,687,360. 2.30% of the stock is currently owned by company insiders.

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.