Gallacher Capital Management LLC Makes New Investment in Ingredion Incorporated (NYSE:INGR)

Gallacher Capital Management LLC bought a new stake in Ingredion Incorporated (NYSE:INGR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,375 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI raised its holdings in shares of Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after buying an additional 159 shares during the last quarter. Legacy Financial Advisors Inc. raised its holdings in Ingredion by 5.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,672 shares of the company’s stock worth $398,000 after purchasing an additional 193 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in Ingredion during the 4th quarter worth about $426,000. Van ECK Associates Corp raised its holdings in Ingredion by 55.6% during the 4th quarter. Van ECK Associates Corp now owns 55,511 shares of the company’s stock worth $6,024,000 after purchasing an additional 19,826 shares during the last quarter. Finally, IVY Lane Capital Management LLC raised its holdings in Ingredion by 44.0% during the 4th quarter. IVY Lane Capital Management LLC now owns 72,000 shares of the company’s stock worth $7,814,000 after purchasing an additional 22,000 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of Ingredion 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 transaction, 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 SEC, which is accessible through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the transaction, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 1,723 shares in the company, valued at $202,245.74. The disclosure for this sale can be found here. Insiders have sold a total of 58,921 shares of company stock worth $6,903,045 over the last 90 days. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

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

Ingredion Stock Performance

INGR traded up $0.85 during trading hours on Monday, reaching $115.41. The company’s stock had a trading volume of 199,873 shares, compared to its average volume of 379,939. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92. The firm has a market cap of $7.57 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81. The company’s 50-day moving average is $115.19 and its 200-day moving average is $108.95. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $118.83.

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

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio is presently 32.50%.

Ingredion 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.