Patrick M Sweeney & Associates Inc. Has $388,000 Position in Ingredion Incorporated (NYSE:INGR)

Patrick M Sweeney & Associates Inc. lifted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,819 shares of the company’s stock after acquiring an additional 110 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Ingredion were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Lebenthal Global Advisors LLC raised its holdings in Ingredion by 3.0% during the fourth quarter. Lebenthal Global Advisors LLC now owns 6,358 shares of the company’s stock worth $875,000 after buying an additional 188 shares during the last quarter. Pacer Advisors Inc. raised its holdings 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 valued at $260,056,000 after purchasing an additional 268,389 shares during the last quarter. KBC Group NV raised its holdings in shares of Ingredion by 45.7% in the fourth quarter. KBC Group NV now owns 2,515 shares of the company’s stock valued at $346,000 after purchasing an additional 789 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Ingredion by 39.5% in the fourth quarter. Blue Trust Inc. now owns 1,874 shares of the company’s stock valued at $258,000 after purchasing an additional 531 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Ingredion by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,535 shares of the company’s stock valued at $761,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

INGR opened at $136.43 on Tuesday. The firm has a market cap of $8.89 billion, a P/E ratio of 13.31, a PEG ratio of 1.10 and a beta of 0.75. The firm has a 50-day moving average of $140.16 and a 200 day moving average of $135.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a fifty-two week low of $107.40 and a fifty-two week high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 earnings per share. On average, research analysts expect that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. Ingredion’s dividend payout ratio is presently 31.22%.

Insiders Place Their Bets

In other news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 12,795 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,692 shares of company stock worth $9,634,868 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INGR has been the subject of several analyst reports. Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Oppenheimer increased their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays increased their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group increased their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets increased their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.17.

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.