Ingredion Incorporated (NYSE:INGR) Shares Sold by AMG National Trust Bank

AMG National Trust Bank decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,904 shares of the company’s stock after selling 316 shares during the quarter. AMG National Trust Bank’s holdings in Ingredion were worth $1,495,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INGR. Assetmark Inc. grew its position in Ingredion by 38,341.7% in the 4th quarter. Assetmark Inc. now owns 509,352 shares of the company’s stock valued at $70,067,000 after buying an additional 508,027 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Ingredion in the fourth quarter valued at about $58,642,000. Pacer Advisors Inc. increased its stake in shares of Ingredion by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after acquiring an additional 268,389 shares during the period. Raymond James Financial Inc. purchased a new position in Ingredion during the fourth quarter worth about $31,752,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Ingredion in the third quarter valued at about $17,094,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Ingredion stock opened at $135.54 on Friday. The firm has a market capitalization of $8.70 billion, a PE ratio of 13.96, a P/E/G ratio of 1.03 and a beta of 0.74. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The firm’s 50-day simple moving average is $132.08 and its 200 day simple moving average is $136.54. 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 (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. Ingredion’s dividend payout ratio is currently 32.96%.

Wall Street Analyst Weigh In

Several research firms have issued reports on INGR. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Oppenheimer cut their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Stephens cut their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets decreased their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.20.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company’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 approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

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.