Wealthspire Advisors LLC Invests $219,000 in Ingredion Incorporated (NYSE:INGR)

Wealthspire Advisors LLC purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,593 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors have also made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after buying an additional 74 shares during the period. Transcend Capital Advisors LLC boosted its stake in shares of 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 buying an additional 90 shares during the period. Truist Financial Corp boosted its stake 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 period. Tidal Investments LLC boosted its stake in shares of Ingredion by 0.5% in the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after buying an additional 94 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ingredion by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after buying an additional 97 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Performance

Shares of Ingredion stock opened at $130.21 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $133.20 and a two-hundred day moving average price of $136.57. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44. The company has a market cap of $8.36 billion, a P/E ratio of 13.41, a PEG ratio of 1.03 and a beta of 0.74.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The company 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 was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. As a group, analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.46%. Ingredion’s payout ratio is 32.96%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INGR. UBS Group boosted their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Stephens cut their target price 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. BMO Capital Markets cut their target price 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. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.20.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the firm’s 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 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 can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

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.