Moran Wealth Management LLC Makes New $208,000 Investment in Ingredion Incorporated (NYSE:INGR)

Moran Wealth Management LLC purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,510 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new position in Ingredion in the 4th quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ingredion in the fourth quarter worth $27,000. Prospera Private Wealth LLC purchased a new position in shares of Ingredion in the third quarter valued at $41,000. Crews Bank & Trust bought a new stake in shares of Ingredion during the 4th quarter valued at $48,000. Finally, Versant Capital Management Inc raised its stake in shares of Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 2.0 %

Shares of Ingredion stock opened at $130.39 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The firm has a market cap of $8.37 billion, a PE ratio of 13.43, a PEG ratio of 1.03 and a beta of 0.75. The company has a 50 day simple moving average of $131.83 and a two-hundred day simple moving average of $136.59.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 EPS. Analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.45%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stephens reduced their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. UBS Group boosted their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets reduced their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, Oppenheimer lowered their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Insider Activity 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 shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by 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.