Ingredion Incorporated (NYSE:INGR) Position Increased by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp boosted its position in shares of Ingredion Incorporated (NYSE:INGR) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,646 shares of the company’s stock after purchasing an additional 395 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Ingredion were worth $1,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INGR. BOK Financial Private Wealth Inc. acquired a new position in shares of Ingredion during the 4th quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ingredion during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC raised its holdings in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after buying an additional 79 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of Ingredion in the fourth quarter worth about $48,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Ingredion during the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other 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 value 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 approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Up 1.9 %

INGR opened at $135.01 on Thursday. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44. The business has a 50 day moving average of $131.57 and a 200-day moving average of $136.47. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.03 and a beta of 0.75. 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) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $1.65 EPS. The business’s revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.37%. Ingredion’s dividend payout ratio (DPR) is 32.96%.

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.