Ingredion Incorporated (NYSE:INGR) Stock Holdings Increased by State of Michigan Retirement System

State of Michigan Retirement System increased its holdings in Ingredion Incorporated (NYSE:INGR) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,988 shares of the company’s stock after purchasing an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Ingredion were worth $1,868,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of Ingredion in the 4th quarter worth approximately $25,000. Blue Trust Inc. raised its holdings in shares of Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after acquiring an additional 103 shares during the period. National Bank of Canada FI raised its holdings in shares of Ingredion by 59.8% during the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after acquiring an additional 159 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Ingredion by 54.0% during the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock valued at $72,000 after acquiring an additional 234 shares during the period. Finally, TFO Wealth Partners LLC raised its holdings in shares of Ingredion by 29,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 879 shares of the company’s stock valued at $95,000 after acquiring an additional 876 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Performance

Shares of INGR opened at $112.95 on Friday. The company’s 50 day moving average price is $116.10 and its 200 day moving average price is $113.61. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $122.18. The company has a market capitalization of $7.42 billion, a PE ratio of 11.32, a PEG ratio of 1.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, meeting analysts’ consensus estimates of $2.08. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm posted $2.80 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. Research analysts expect that Ingredion Incorporated will post 9.7 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 1st will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.76%. The ex-dividend date is Monday, July 1st. Ingredion’s dividend payout ratio is 31.26%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.36, for a total value of $3,199,900.00. Following the completion of the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction that occurred 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 directly owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the completion of the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The disclosure for this sale can be found here. Insiders sold 38,359 shares of company stock valued at $4,515,644 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 13th. BMO Capital Markets boosted their price target on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.17.

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.