Ingredion Incorporated (NYSE:INGR) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,323 shares of the company’s stock after selling 102 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Ingredion were worth $457,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted its holdings in Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after purchasing an additional 74 shares during the period. EverSource Wealth Advisors LLC raised its position in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares in the last quarter. Mindset Wealth Management LLC boosted its stake in shares of Ingredion by 2.1% in the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after buying an additional 82 shares during the period. Transcend Capital Advisors LLC grew its position in shares of Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after buying an additional 90 shares in the last quarter. Finally, Truist Financial Corp increased its stake in shares of Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Performance

NYSE INGR opened at $122.75 on Wednesday. The company has a fifty day moving average of $130.72 and a two-hundred day moving average of $136.21. The company has a market capitalization of $7.88 billion, a PE ratio of 12.64, a P/E/G ratio of 1.03 and a beta of 0.72. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year 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.

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

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given 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 2.61%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Analyst Ratings Changes

INGR has been the subject of a number of recent research reports. UBS Group reiterated a “neutral” rating and issued a $145.00 price target (down previously from $165.00) on shares of Ingredion in a research note on Monday. Oppenheimer lowered their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Stephens decreased their price target on 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 dropped their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and an average price target of $152.60.

Insider Activity

In other news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction dated 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 owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

About Ingredion

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.