230,820 Shares in Ingredion Incorporated (NYSE:INGR) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 230,820 shares of the company’s stock, valued at approximately $31,752,000. Raymond James Financial Inc. owned 0.35% of Ingredion as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp grew its position in Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after buying an additional 19,560 shares in the last quarter. Pacer Advisors Inc. grew its position in Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after buying an additional 268,389 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after buying an additional 36,421 shares in the last quarter. Geode Capital Management LLC grew its position in Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock valued at $160,516,000 after buying an additional 19,064 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after buying an additional 89,335 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of INGR opened at $130.29 on Friday. The firm has a market cap of $8.36 billion, a PE ratio of 13.42, a PEG ratio of 1.03 and a beta of 0.75. The firm’s 50 day moving average price is $131.70 and its 200 day moving average price is $136.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44.

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

Ingredion Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INGR shares. Oppenheimer reduced their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets reduced their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.20.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the sale, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Ingredion 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.