Ingredion Incorporated (NYSE:INGR) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 842,763 shares of the company’s stock after buying an additional 89,335 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ingredion were worth $115,930,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion during the fourth quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the 3rd quarter worth $41,000. Crews Bank & Trust acquired a new stake in shares of Ingredion in the 4th quarter worth $48,000. Versant Capital Management Inc raised its holdings in shares of Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after acquiring an additional 362 shares during the period. Finally, Concord Wealth Partners boosted its position in shares of Ingredion by 82.6% during the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after acquiring an additional 223 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction that occurred on 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 owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,685 shares of company stock valued at $9,414,112 in the last three months. 1.80% of the stock is owned by corporate insiders.

Ingredion Stock Up 1.4 %

Shares of INGR opened at $128.07 on Friday. The company’s 50-day simple moving average is $134.19 and its 200-day simple moving average is $136.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The stock has a market capitalization of $8.35 billion, a PE ratio of 13.19, a P/E/G ratio of 1.04 and a beta of 0.74.

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

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date 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 (DPR) is presently 32.96%.

Wall Street Analysts Forecast Growth

INGR has been the topic of several recent analyst reports. BMO Capital Markets decreased their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Barclays upped their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer cut their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Stephens lowered 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Company 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.