Brandywine Global Investment Management LLC Grows Holdings in Ingredion Incorporated (NYSE:INGR)

Brandywine Global Investment Management LLC raised its position in Ingredion Incorporated (NYSE:INGR) by 57.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,881 shares of the company’s stock after buying an additional 24,679 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.10% of Ingredion worth $9,338,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of INGR. D.A. Davidson & CO. boosted its stake in shares of Ingredion by 9.4% during the 3rd quarter. D.A. Davidson & CO. now owns 4,018 shares of the company’s stock valued at $552,000 after buying an additional 345 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Ingredion by 33.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 49,237 shares of the company’s stock worth $6,767,000 after purchasing an additional 12,270 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Ingredion by 8.8% in the 3rd quarter. Townsquare Capital LLC now owns 5,070 shares of the company’s stock valued at $697,000 after purchasing an additional 412 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Ingredion by 92.4% during the third quarter. Verition Fund Management LLC now owns 12,194 shares of the company’s stock worth $1,676,000 after purchasing an additional 5,855 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Ingredion during the third quarter valued at approximately $17,094,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. 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. BMO Capital Markets reduced their price target 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. Finally, Oppenheimer lowered their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Insider Activity

In other news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, valued at $4,295,906.76. This 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 at this link. 1.80% of the stock is owned by insiders.

Ingredion Trading Up 0.2 %

NYSE:INGR opened at $135.22 on Tuesday. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The business has a fifty day moving average of $131.59 and a 200-day moving average of $136.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. Equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

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 paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is 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.