MainStreet Investment Advisors LLC Sells 803 Shares of Ingredion Incorporated (NYSE:INGR)

MainStreet Investment Advisors LLC reduced its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,445 shares of the company’s stock after selling 803 shares during the quarter. MainStreet Investment Advisors LLC owned 0.06% of Ingredion worth $5,701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Ingredion by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock worth $1,002,222,000 after acquiring an additional 84,863 shares during the period. Pacer Advisors Inc. grew its stake in shares of Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after acquiring an additional 268,389 shares during the period. Geode Capital Management LLC grew its stake in shares of Ingredion by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company’s stock worth $162,703,000 after acquiring an additional 14,741 shares during the period. Invesco Ltd. grew its stake in shares of Ingredion by 5.7% in the fourth quarter. Invesco Ltd. now owns 870,317 shares of the company’s stock worth $119,721,000 after acquiring an additional 46,819 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of Ingredion by 11.9% in the fourth quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock worth $115,930,000 after acquiring an additional 89,335 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction that occurred 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 transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. The trade was a 24.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction that occurred on Wednesday, May 7th. The shares were 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 in the company, valued at $4,345,696.72. This represents a 6.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,215 shares of company stock valued at $1,687,360 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Ingredion Stock Performance

Shares of NYSE INGR opened at $137.78 on Wednesday. The firm has a 50 day moving average of $131.88 and a 200 day moving average of $135.61. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 12-month low of $111.54 and a 12-month high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.32%. The ex-dividend date was Tuesday, April 1st. Ingredion’s dividend payout ratio is currently 33.76%.

Analyst Ratings Changes

A number of analysts have recently commented on INGR shares. UBS Group set a $155.00 price target on shares of Ingredion in a research note on Tuesday, April 22nd. Oppenheimer reduced their price target on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Stephens cut their target price on shares of 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 cut their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and a consensus 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.