Centric Wealth Management Acquires 272 Shares of Ingredion Incorporated (NYSE:INGR)

Centric Wealth Management raised its stake in Ingredion Incorporated (NYSE:INGR) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,083 shares of the company’s stock after acquiring an additional 272 shares during the quarter. Centric Wealth Management’s holdings in Ingredion were worth $2,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. BOK Financial Private Wealth Inc. bought a new position in Ingredion in the fourth quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after buying an additional 196 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after buying an additional 79 shares during the period. Finally, Crews Bank & Trust bought a new stake in Ingredion during the 4th quarter worth approximately $48,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INGR has been the topic of several analyst reports. BMO Capital Markets reduced their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note 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. Oppenheimer decreased their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, Stephens decreased their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.20.

Ingredion Stock Up 0.2 %

INGR stock opened at $135.22 on Tuesday. The firm has a market capitalization of $8.68 billion, a PE ratio of 13.93, a P/E/G ratio of 1.03 and a beta of 0.75. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44. The stock’s 50 day moving average is $131.59 and its 200-day moving average is $136.48.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping 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%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. Sell-side analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced 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 2.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio is presently 32.96%.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

About Ingredion

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.