Retirement Guys Formula LLC Takes $204,000 Position in Ingredion Incorporated (NYSE:INGR)

Retirement Guys Formula LLC purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,482 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently made changes to their positions in INGR. Hennessy Advisors Inc. purchased a new stake in shares of Ingredion during the 4th quarter valued at about $58,642,000. Pacer Advisors Inc. increased its holdings in Ingredion by 16.5% during the fourth 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 during the last quarter. International Assets Investment Management LLC raised its position in Ingredion by 55,219.9% in the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after acquiring an additional 174,495 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Ingredion during the 3rd quarter worth $17,094,000. Finally, Franklin Resources Inc. grew its position in shares of Ingredion by 75.7% during the 3rd 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 during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of the 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 transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,992 shares of company stock worth $8,913,841. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets decreased their target price 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. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and an average price target of $154.33.

Ingredion Stock Performance

INGR opened at $128.68 on Wednesday. The firm has a market cap of $8.39 billion, a P/E ratio of 13.25, a PEG ratio of 1.04 and a beta of 0.74. Ingredion Incorporated has a 1-year low of $107.77 and a 1-year high of $155.44. The company has a 50 day simple moving average of $137.21 and a two-hundred day simple moving average of $136.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

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

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a dividend of $0.80 per share. 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 2.49%. Ingredion’s dividend payout ratio is 32.96%.

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.