Alpine Woods Capital Investors LLC Grows Stock Position in Ingredion Incorporated (NYSE:INGR)

Alpine Woods Capital Investors LLC grew its position in shares of Ingredion Incorporated (NYSE:INGR) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,095 shares of the company’s stock after buying an additional 3,304 shares during the quarter. Ingredion accounts for approximately 1.8% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 9th largest position. Alpine Woods Capital Investors LLC’s holdings in Ingredion were worth $9,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its stake 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 worth $572,000 after purchasing an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after purchasing an additional 79 shares in the last quarter. Transcend Capital Advisors LLC increased its stake in shares of Ingredion by 2.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after purchasing an additional 90 shares in the last quarter. Truist Financial Corp increased its stake in shares of Ingredion by 1.3% in the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after purchasing an additional 90 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Ingredion by 0.5% in the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after purchasing an additional 94 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Ingredion Trading Down 0.2 %

Shares of Ingredion stock opened at $130.29 on Friday. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.03 and a beta of 0.75. The business has a 50-day moving average price of $131.70 and a 200-day moving average price of $136.55. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. 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 analysts’ consensus estimates of $2.54 by $0.09. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. Equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

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

Insider Activity

In related news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

INGR has been the subject of several analyst reports. Oppenheimer reduced their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. UBS Group increased 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. Stephens cut their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, BMO Capital Markets cut their price target 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average target price of $158.20.

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.