Corient Private Wealth LLC Cuts Stake in Ingredion Incorporated (NYSE:INGR)

Corient Private Wealth LLC lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,834 shares of the company’s stock after selling 934 shares during the quarter. Corient Private Wealth LLC’s holdings in Ingredion were worth $3,691,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC raised its position in Ingredion by 195.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock worth $1,595,000 after buying an additional 7,676 shares during the last quarter. State Street Corp raised its position in Ingredion by 0.8% during the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after buying an additional 19,560 shares during the last quarter. Franklin Resources Inc. raised its position in Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after buying an additional 83,708 shares during the last quarter. Principal Financial Group Inc. raised its position in Ingredion by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock worth $99,683,000 after buying an additional 10,812 shares during the last quarter. Finally, Fractal Investments LLC purchased a new position in Ingredion during the 4th quarter worth $344,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INGR has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Oppenheimer lowered their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Stephens lowered their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Price Performance

Shares of NYSE INGR opened at $130.32 on Friday. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The company’s 50-day moving average price is $131.51 and its 200 day moving average price is $136.50. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. As a group, research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Ingredion’s dividend payout ratio is currently 32.96%.

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.