Ingredion Incorporated $INGR Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 695,823 shares of the company’s stock after selling 29,743 shares during the period. Principal Financial Group Inc.’s holdings in Ingredion were worth $84,968,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Ingredion by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,266,873 shares of the company’s stock worth $985,533,000 after acquiring an additional 22,487 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Ingredion by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,369,448 shares of the company’s stock worth $167,223,000 after purchasing an additional 29,433 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Ingredion by 6.0% during the second quarter. First Trust Advisors LP now owns 982,704 shares of the company’s stock worth $133,274,000 after purchasing an additional 55,924 shares in the last quarter. Cooke & Bieler LP grew its stake in shares of Ingredion by 16.0% during the third quarter. Cooke & Bieler LP now owns 903,346 shares of the company’s stock worth $110,308,000 after purchasing an additional 124,517 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Ingredion by 2.6% in the second quarter. Invesco Ltd. now owns 876,174 shares of the company’s stock valued at $118,827,000 after buying an additional 22,245 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Down 0.6%

Shares of Ingredion stock opened at $117.38 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.79 and a current ratio of 2.75. The company has a market capitalization of $7.46 billion, a P/E ratio of 11.70, a PEG ratio of 0.94 and a beta of 0.71. Ingredion Incorporated has a 1 year low of $102.31 and a 1 year high of $141.78. The company’s fifty day moving average is $111.91 and its two-hundred day moving average is $118.42.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.07). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Ingredion had a return on equity of 18.14% and a net margin of 9.07%. Analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Friday, January 2nd were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, January 2nd. Ingredion’s dividend payout ratio is currently 32.70%.

Wall Street Analysts Forecast Growth

INGR has been the subject of several analyst reports. UBS Group lowered their price objective on Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Stephens decreased their target price on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Zacks Research upgraded shares of Ingredion from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Industrial Alliance Securities set a $124.00 price objective on shares of Ingredion in a research report on Thursday, November 6th. Finally, BMO Capital Markets lowered their target price on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $124.33.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.