Exchange Traded Concepts LLC increased its holdings in shares of Ingredion Incorporated (NYSE:INGR – Free Report) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,535 shares of the company’s stock after buying an additional 140 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ingredion were worth $761,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Signaturefd LLC raised its stake in Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after buying an additional 85 shares during the period. Tidal Investments LLC raised its stake in Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after buying an additional 94 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Ingredion by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock worth $1,427,000 after purchasing an additional 97 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in Ingredion by 3.3% during the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after purchasing an additional 105 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Ingredion by 1.1% during the 3rd quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock worth $1,728,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.
Ingredion Trading Up 1.2 %
Shares of INGR stock opened at $136.68 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12-month low of $107.40 and a 12-month high of $155.44. The firm has a 50 day moving average price of $139.86 and a two-hundred day moving average price of $135.52. The company has a market capitalization of $8.91 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.10 and a beta of 0.75.
Ingredion Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. Ingredion’s payout ratio is 31.22%.
Insider Activity
In other Ingredion news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,692 shares of company stock worth $9,634,868. Corporate insiders own 1.80% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on INGR shares. BMO Capital Markets increased their target price on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Oppenheimer raised their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays raised their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average price target of $155.17.
View Our Latest Stock Analysis on Ingredion
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.
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