Fulton Bank N.A. Has $335,000 Holdings in Ingredion Incorporated (NYSE:INGR)

Fulton Bank N.A. reduced its position in Ingredion Incorporated (NYSE:INGR) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,435 shares of the company’s stock after selling 271 shares during the quarter. Fulton Bank N.A.’s holdings in Ingredion were worth $335,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of INGR. Los Angeles Capital Management LLC bought a new position in shares of Ingredion in the 2nd quarter worth about $516,000. Wedbush Securities Inc. acquired a new position in Ingredion in the second quarter valued at approximately $230,000. American Century Companies Inc. boosted its holdings in shares of Ingredion by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 192,490 shares of the company’s stock worth $22,079,000 after buying an additional 14,343 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of Ingredion in the 2nd quarter valued at $289,000. Finally, Equity Investment Corp lifted its position in shares of Ingredion by 2.8% during the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after acquiring an additional 26,526 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,692 shares of company stock valued at $9,634,868. Insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR opened at $130.62 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The stock has a market cap of $8.51 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.24 and a beta of 0.75. The stock’s fifty day simple moving average is $142.84 and its two-hundred day simple moving average is $133.44. Ingredion Incorporated has a 1-year low of $107.20 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. As a group, analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.45%. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INGR shares. BMO Capital Markets upped their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Barclays raised their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. UBS Group upped their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.