Ingredion Incorporated (NYSE:INGR) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP decreased its stake in Ingredion Incorporated (NYSE:INGR) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,153 shares of the company’s stock after selling 111 shares during the quarter. ARGA Investment Management LP’s holdings in Ingredion were worth $953,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of INGR. Jones Financial Companies Lllp acquired a new stake in shares of Ingredion in the fourth quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after buying an additional 147 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after buying an additional 103 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after buying an additional 159 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Ingredion by 54.0% in the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock worth $72,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Down 0.9 %

NYSE INGR traded down $0.98 on Wednesday, hitting $114.06. 92,551 shares of the stock were exchanged, compared to its average volume of 389,603. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $122.18. The company has a market cap of $7.49 billion, a PE ratio of 11.53, a PEG ratio of 1.08 and a beta of 0.74. The company has a 50-day moving average price of $116.10 and a 200-day moving average price of $113.39.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, hitting the consensus estimate of $2.08. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 EPS. Sell-side analysts anticipate that Ingredion Incorporated will post 9.76 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $3.12 annualized dividend and a dividend yield of 2.74%. Ingredion’s dividend payout ratio is presently 31.26%.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the sale, the senior vice president now owns 28,848 shares in the company, valued at approximately $3,436,085.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ingredion news, CFO James D. Gray sold 8,490 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the transaction, the chief financial officer now owns 42,833 shares in the company, valued at approximately $5,214,489.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total transaction of $282,171.59. Following the transaction, the senior vice president now owns 28,848 shares of the company’s stock, valued at approximately $3,436,085.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,360 shares of company stock worth $4,515,761. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

INGR has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on shares of Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, Barclays boosted their price target on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.17.

Ingredion 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.