Cookson Peirce & Co. Inc. Grows Position in Ingredion Incorporated (NYSE:INGR)

Cookson Peirce & Co. Inc. raised its position in Ingredion Incorporated (NYSE:INGR) by 14.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,449 shares of the company’s stock after purchasing an additional 552 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Ingredion were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Ingredion by 1.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after acquiring an additional 74 shares during the period. Transcend Capital Advisors LLC increased its stake in Ingredion by 2.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after purchasing an additional 90 shares during the period. Truist Financial Corp raised its holdings in shares of Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 90 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Ingredion by 0.5% during the third 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. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ingredion by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock worth $1,427,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on INGR shares. BMO Capital Markets reduced their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Stephens reduced their target price 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.20.

Ingredion Stock Up 0.1 %

Ingredion stock opened at $129.22 on Thursday. The stock’s 50 day moving average price is $132.29 and its 200 day moving average price is $136.56. The company has a market cap of $8.29 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74. 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 Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly 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. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 EPS. On average, sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.48%. 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.