Lecap Asset Management Ltd. Increases Stock Position in Ingredion Incorporated (NYSE:INGR)

Lecap Asset Management Ltd. grew its position in shares of Ingredion Incorporated (NYSE:INGR) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,889 shares of the company’s stock after purchasing an additional 416 shares during the period. Lecap Asset Management Ltd.’s holdings in Ingredion were worth $673,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion during the 4th quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new position in shares of Ingredion during the 3rd quarter valued at approximately $41,000. Crews Bank & Trust purchased a new position in shares of Ingredion in the fourth quarter valued at $48,000. Versant Capital Management Inc increased its position in Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after purchasing an additional 362 shares during the last quarter. Finally, Concord Wealth Partners raised its stake in Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 223 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Transactions at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,992 shares of company stock valued at $8,913,841. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INGR has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday. Stephens decreased their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Oppenheimer dropped their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.33.

Ingredion Trading Up 0.3 %

Shares of NYSE INGR opened at $127.83 on Friday. Ingredion Incorporated has a fifty-two week low of $107.77 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.11 and a beta of 0.74. The business’s 50 day moving average price is $138.01 and its 200-day moving average price is $135.97.

Ingredion (NYSE:INGR) last released its earnings results 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. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share. On average, sell-side analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. Ingredion’s dividend payout ratio is currently 31.22%.

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.