Modern Wealth Management LLC Makes New $279,000 Investment in Ingredion Incorporated (NYSE:INGR)

Modern Wealth Management LLC bought a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,188 shares of the company’s stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new position in Ingredion in the 4th quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ingredion in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after purchasing an additional 79 shares during the last quarter. Crews Bank & Trust bought a new stake in Ingredion during the 4th quarter valued at about $48,000. Finally, Millstone Evans Group LLC purchased a new stake in Ingredion in the 4th quarter valued at about $55,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ingredion

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INGR. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Stephens reduced their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Oppenheimer lowered their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets cut their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Stock Up 0.3 %

Ingredion stock opened at $135.46 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.69 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.03 and a beta of 0.75. The business has a fifty day moving average of $131.59 and a two-hundred day moving average of $136.46. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44.

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

Ingredion Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.36%. Ingredion’s dividend payout ratio (DPR) 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.