Strs Ohio Sells 143,319 Shares of Ingredion Incorporated (NYSE:INGR)

Strs Ohio trimmed its position in Ingredion Incorporated (NYSE:INGR) by 85.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,370 shares of the company’s stock after selling 143,319 shares during the quarter. Strs Ohio’s holdings in Ingredion were worth $2,753,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP bought a new position in Ingredion in the 2nd quarter valued at about $30,000. Aspire Private Capital LLC raised its holdings in Ingredion by 172.3% in the 4th quarter. Aspire Private Capital LLC now owns 354 shares of the company’s stock valued at $34,667,220,000 after acquiring an additional 224 shares during the period. Blue Trust Inc. raised its holdings in Ingredion by 40.2% in the 4th 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. Cary Street Partners Investment Advisory LLC raised its holdings in Ingredion by 63.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after acquiring an additional 147 shares during the period. Finally, Allworth Financial LP raised its holdings in Ingredion by 414.1% in the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $39,000 after acquiring an additional 323 shares during the period. 85.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on INGR shares. Barclays increased their price target on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Stephens restated an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and increased their target price for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.67.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 54,581 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the transaction, the chief executive officer now owns 99,246 shares of the company’s stock, valued at approximately $11,635,601.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the transaction, the senior vice president now directly owns 28,966 shares of the company’s stock, valued at approximately $3,333,407.28. The disclosure for this sale can be found here. Insiders sold a total of 58,921 shares of company stock valued at $6,903,045 in the last quarter. Insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE INGR opened at $112.36 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.05 and a beta of 0.81. The firm’s 50 day simple moving average is $114.82 and its 200 day simple moving average is $107.20. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $118.83.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.87 by $0.10. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. As a group, research analysts expect that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Monday, April 1st will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, March 28th. Ingredion’s payout ratio is 32.50%.

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.