Grace & White Inc. NY Cuts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Grace & White Inc. NY lessened its stake in Ingredion Incorporated (NYSE:INGR) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,441 shares of the company’s stock after selling 300 shares during the quarter. Ingredion makes up about 2.8% of Grace & White Inc. NY’s holdings, making the stock its 9th largest position. Grace & White Inc. NY owned approximately 0.23% of Ingredion worth $16,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its stake in Ingredion by 63.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after buying an additional 147 shares during the period. Allworth Financial LP lifted its stake in Ingredion by 414.1% during the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after purchasing an additional 323 shares during the last quarter. Blue Trust Inc. lifted its stake in Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares during the last quarter. IFP Advisors Inc lifted its stake in Ingredion by 33.7% during the third quarter. IFP Advisors Inc now owns 484 shares of the company’s stock worth $48,000 after purchasing an additional 122 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Ingredion by 29.1% during the third quarter. Geneos Wealth Management Inc. now owns 493 shares of the company’s stock worth $49,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 0.0 %

NYSE:INGR traded up $0.04 during midday trading on Tuesday, hitting $114.35. 180,054 shares of the company traded hands, compared to its average volume of 396,199. The firm’s fifty day moving average is $115.04 and its 200-day moving average is $107.60. The firm has a market capitalization of $7.50 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.07 and a beta of 0.81. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $118.83.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Ingredion Incorporated will post 9.62 EPS for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Monday, April 1st will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is currently 32.50%.

Wall Street Analyst Weigh In

INGR has been the subject of a number of recent research reports. Barclays boosted their target price on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and raised their price objective for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Finally, Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $126.67.

Insider Buying and Selling

In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the sale, the vice president now directly owns 1,723 shares in the company, valued at $202,245.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the sale, the vice president now owns 1,723 shares in the company, valued at $202,245.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction on Monday, March 4th. The shares were sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the sale, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The disclosure for this sale can be found here. Insiders sold 58,921 shares of company stock worth $6,903,045 in the last three months. 1.80% of the stock is owned by insiders.

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.