Caprock Group LLC Acquires New Position in Ingredion Incorporated (NYSE:INGR)

Caprock Group LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,917 shares of the company’s stock, valued at approximately $264,000.

Several other large investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in shares of Ingredion in the fourth quarter worth $58,642,000. Pacer Advisors Inc. increased its stake in Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after buying an additional 268,389 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Ingredion by 55,219.9% during the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after acquiring an additional 174,495 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Ingredion during the third quarter valued at about $17,094,000. Finally, Franklin Resources Inc. lifted its position in shares of Ingredion by 75.7% in the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after acquiring an additional 83,708 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity

In other news, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value 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. This represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $8,052,574.44. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 60,992 shares of company stock valued at $8,913,841 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on INGR. BMO Capital Markets decreased their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday. Barclays increased their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer lowered their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Ingredion has an average rating of “Moderate Buy” and a consensus target price of $154.33.

Ingredion Trading Up 0.8 %

INGR stock opened at $127.34 on Friday. The firm has a market cap of $8.30 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.11 and a beta of 0.74. The firm has a fifty day moving average price of $138.40 and a 200 day moving average price of $136.03. 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 $107.77 and a fifty-two week high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. Sell-side analysts anticipate that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is 32.96%.

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.