Ingredion Incorporated (NYSE:INGR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in Ingredion Incorporated (NYSE:INGR) by 4.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,341 shares of the company’s stock after selling 3,900 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of Ingredion worth $10,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of INGR. Patriot Financial Group Insurance Agency LLC increased its stake in Ingredion by 1.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after purchasing an additional 74 shares in the last quarter. Truist Financial Corp increased its position in shares of Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after acquiring an additional 90 shares in the last quarter. Tidal Investments LLC increased its position in shares of Ingredion by 0.5% in the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after acquiring an additional 94 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ingredion by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after acquiring an additional 97 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in shares of Ingredion by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock valued at $2,490,000 after acquiring an additional 100 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays boosted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Stephens decreased their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets dropped their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, UBS Group raised their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average target price of $158.20.

Insider Buying and Selling

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the company’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 completion of the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders sold 65,685 shares of company stock worth $9,414,112. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of NYSE INGR opened at $130.30 on Tuesday. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. The business’s 50-day moving average price is $133.61 and its two-hundred day moving average price is $136.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company has a market capitalization of $8.36 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74.

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

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is presently 32.96%.

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.