Ritholtz Wealth Management Buys 5,303 Shares of Ingredion Incorporated (NYSE:INGR)

Ritholtz Wealth Management lifted its stake in Ingredion Incorporated (NYSE:INGR) by 46.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,636 shares of the company’s stock after acquiring an additional 5,303 shares during the period. Ritholtz Wealth Management’s holdings in Ingredion were worth $2,288,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ingredion in the second quarter valued at approximately $33,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the 3rd quarter worth $41,000. Versant Capital Management Inc grew its stake in Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after buying an additional 362 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Ingredion during the 2nd quarter valued at about $56,000. Finally, Concord Wealth Partners raised its stake in Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after buying an additional 223 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, 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 sale 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 business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,692 shares of company stock valued at $9,634,868. Corporate insiders own 1.80% of the company’s stock.

Ingredion Trading Up 0.6 %

NYSE INGR opened at $135.16 on Friday. The company has a fifty day moving average of $141.36 and a 200 day moving average of $134.10. The company has a market capitalization of $8.81 billion, a PE ratio of 13.19, a P/E/G ratio of 1.07 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. Ingredion Incorporated has a 1 year low of $107.20 and a 1 year high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. Research analysts forecast that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, January 2nd. Ingredion’s dividend payout ratio is currently 31.22%.

Wall Street Analyst Weigh In

INGR has been the topic of a number of research analyst reports. UBS Group boosted 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 upped their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Stephens raised shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Finally, Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.17.

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.