Ingredion Incorporated (NYSE:INGR) Position Lowered by Swiss National Bank

Swiss National Bank decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,900 shares of the company’s stock after selling 300 shares during the quarter. Swiss National Bank owned approximately 0.20% of Ingredion worth $17,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after acquiring an additional 79 shares during the period. HighTower Advisors LLC raised its stake in Ingredion by 3.6% during the fourth quarter. HighTower Advisors LLC now owns 15,879 shares of the company’s stock worth $2,184,000 after acquiring an additional 557 shares during the period. Wealthfront Advisers LLC acquired a new stake in Ingredion during the fourth quarter worth about $20,454,000. Moran Wealth Management LLC acquired a new stake in Ingredion during the fourth quarter worth about $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ingredion by 24.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,491 shares of the company’s stock worth $2,269,000 after acquiring an additional 3,292 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INGR shares. Stephens dropped their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Oppenheimer dropped their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets dropped their price target 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. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.20.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Ingredion Price Performance

NYSE INGR opened at $132.06 on Wednesday. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The firm has a market capitalization of $8.48 billion, a PE ratio of 13.60, a P/E/G ratio of 1.03 and a beta of 0.75. The company’s 50 day simple moving average is $131.57 and its 200 day simple moving average is $136.57.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $1.65 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.42%. Ingredion’s dividend payout ratio is presently 32.96%.

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.