Handelsbanken Fonder AB Sells 3,600 Shares of Ingredion Incorporated (NYSE:INGR)

Handelsbanken Fonder AB lessened its position in shares of Ingredion Incorporated (NYSE:INGR) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,630 shares of the company’s stock after selling 3,600 shares during the period. Handelsbanken Fonder AB’s holdings in Ingredion were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in INGR. Creative Planning lifted its holdings in shares of Ingredion by 5.5% during the 3rd quarter. Creative Planning now owns 11,203 shares of the company’s stock worth $1,540,000 after acquiring an additional 584 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Ingredion by 10.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,003 shares of the company’s stock worth $550,000 after acquiring an additional 387 shares during the period. Allworth Financial LP lifted its holdings in shares of Ingredion by 114.1% during the 3rd quarter. Allworth Financial LP now owns 929 shares of the company’s stock worth $128,000 after acquiring an additional 495 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Ingredion by 1.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 27,953 shares of the company’s stock worth $3,841,000 after acquiring an additional 510 shares during the period. Finally, Concord Wealth Partners lifted its holdings in shares of Ingredion by 82.6% during the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after acquiring an additional 223 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 1.7 %

Shares of NYSE INGR opened at $132.47 on Wednesday. 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 52-week low of $109.51 and a 52-week high of $155.44. The firm has a 50 day moving average price of $133.61 and a two-hundred day moving average price of $136.59. The stock has a market cap of $8.50 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74.

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

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 32.96%.

Insider Buying and Selling at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents 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 have sold 65,685 shares of company stock valued at $9,414,112. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on INGR shares. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Oppenheimer dropped their price objective 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. Barclays increased their price objective 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. UBS Group increased their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets dropped their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.