Retirement Guys Formula LLC Increases Holdings in Ingredion Incorporated (NYSE:INGR)

Retirement Guys Formula LLC raised its stake in shares of Ingredion Incorporated (NYSE:INGR) by 5.7% during the first quarter, HoldingsChannel reports. The firm owned 1,566 shares of the company’s stock after buying an additional 84 shares during the quarter. Retirement Guys Formula LLC’s holdings in Ingredion were worth $212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spirepoint Private Client LLC increased its position in Ingredion by 4.2% during the first quarter. Spirepoint Private Client LLC now owns 37,037 shares of the company’s stock valued at $5,008,000 after acquiring an additional 1,489 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Ingredion by 24.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 26,953 shares of the company’s stock worth $3,644,000 after purchasing an additional 5,215 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Ingredion by 5.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,443 shares of the company’s stock worth $736,000 after purchasing an additional 257 shares during the last quarter. Covea Finance boosted its position in shares of Ingredion by 4.8% during the first quarter. Covea Finance now owns 52,500 shares of the company’s stock valued at $7,099,000 after buying an additional 2,400 shares during the period. Finally, Institute for Wealth Management LLC. purchased a new stake in shares of Ingredion in the first quarter worth approximately $226,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity

In other news, SVP Larry Fernandes sold 2,400 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president now directly owns 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $139.38 on Tuesday. The firm has a 50 day moving average of $135.85 and a 200 day moving average of $134.25. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.10 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.44 by $0.53. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. On average, sell-side analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, July 1st. Ingredion’s payout ratio is 33.76%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on INGR shares. UBS Group set a $155.00 target price on Ingredion in a research report on Tuesday, April 22nd. Oppenheimer lowered their target price on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average target price of $152.20.

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.