Gallacher Capital Management LLC Purchases New Position in Ingredion Incorporated (NYSE:INGR)

Gallacher Capital Management LLC acquired a new stake in Ingredion Incorporated (NYSE:INGR) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,484 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of Ingredion by 48.4% during the 3rd quarter. Assetmark Inc. now owns 1,325 shares of the company’s stock valued at $182,000 after acquiring an additional 432 shares during the last quarter. Atria Investments Inc boosted its holdings in Ingredion by 4.8% in the third quarter. Atria Investments Inc now owns 7,028 shares of the company’s stock worth $966,000 after purchasing an additional 323 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Ingredion by 124.8% in the third quarter. Victory Capital Management Inc. now owns 61,575 shares of the company’s stock worth $8,462,000 after purchasing an additional 34,189 shares during the last quarter. KBC Group NV grew its position in Ingredion by 12.2% in the 3rd quarter. KBC Group NV now owns 1,726 shares of the company’s stock worth $237,000 after purchasing an additional 187 shares during the period. Finally, Metis Global Partners LLC raised its stake in Ingredion by 36.7% during the 3rd quarter. Metis Global Partners LLC now owns 3,853 shares of the company’s stock valued at $530,000 after buying an additional 1,035 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Stephens dropped their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets reduced their price target 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. Finally, Oppenheimer dropped their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Insider Activity

In other news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the sale, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.6 %

NYSE INGR opened at $131.37 on Monday. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.43 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The stock’s 50-day moving average price is $131.60 and its 200-day moving average price is $136.59.

Ingredion (NYSE:INGR) last issued its quarterly earnings results 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 business had revenue of $1.80 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.65 earnings per share. On average, equities research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be issued 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 yield of 2.44%. Ingredion’s dividend payout ratio is presently 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.