Ingredion Incorporated (NYSE:INGR) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,601 shares of the company’s stock after selling 612 shares during the quarter. HB Wealth Management LLC’s holdings in Ingredion were worth $220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INGR. Merit Financial Group LLC acquired a new position in Ingredion in the 4th quarter valued at $314,000. Hennessy Advisors Inc. acquired a new stake in shares of Ingredion in the fourth quarter valued at about $58,642,000. Ritholtz Wealth Management lifted its stake in shares of Ingredion by 46.8% in the fourth quarter. Ritholtz Wealth Management now owns 16,636 shares of the company’s stock worth $2,288,000 after buying an additional 5,303 shares in the last quarter. West Coast Financial LLC boosted its position in Ingredion by 1.9% during the fourth quarter. West Coast Financial LLC now owns 33,994 shares of the company’s stock worth $4,676,000 after acquiring an additional 650 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Ingredion by 31.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,275 shares of the company’s stock valued at $726,000 after acquiring an additional 1,272 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 0.8 %

NYSE INGR opened at $135.60 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The stock has a market capitalization of $8.84 billion, a P/E ratio of 13.23, a PEG ratio of 1.10 and a beta of 0.75. The firm’s 50-day moving average is $140.16 and its two-hundred day moving average is $134.90. Ingredion Incorporated has a 12 month low of $107.37 and a 12 month high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. Ingredion’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. On average, sell-side analysts anticipate that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,692 shares of company stock valued at $9,634,868 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INGR. Stephens upgraded Ingredion to a “hold” rating in a research report on Monday, December 2nd. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays boosted their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. BMO Capital Markets raised their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Finally, UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

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.