Skba Capital Management LLC Has $12.47 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Skba Capital Management LLC trimmed its position in Ingredion Incorporated (NYSE:INGR) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,650 shares of the company’s stock after selling 5,250 shares during the quarter. Ingredion accounts for 2.0% of Skba Capital Management LLC’s holdings, making the stock its 17th largest holding. Skba Capital Management LLC owned 0.14% of Ingredion worth $12,470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Ingredion by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock worth $1,002,222,000 after buying an additional 84,863 shares in the last quarter. State Street Corp grew its position in Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after acquiring an additional 19,560 shares during the last quarter. Pacer Advisors Inc. raised its stake in 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ingredion by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock worth $160,516,000 after acquiring an additional 19,064 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after purchasing an additional 89,335 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Ingredion Stock Performance

Shares of Ingredion stock opened at $134.86 on Monday. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44. The company’s fifty day moving average is $131.59 and its 200 day moving average is $136.47. 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 released its quarterly earnings results 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 return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. Ingredion’s dividend payout ratio (DPR) is currently 32.96%.

Insider Activity

In related news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction on 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 owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.