New Wave Wealth Advisors LLC Sells 197 Shares of Ingredion Incorporated (NYSE:INGR)

New Wave Wealth Advisors LLC lessened its stake in Ingredion Incorporated (NYSE:INGR) by 8.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,223 shares of the company’s stock after selling 197 shares during the period. New Wave Wealth Advisors LLC’s holdings in Ingredion were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC grew its position in 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 during the period. Signaturefd LLC grew its position in Ingredion by 5.7% in the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after purchasing an additional 85 shares during the period. Tidal Investments LLC grew its position in shares of Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after acquiring an additional 94 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ingredion by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock worth $1,427,000 after purchasing an additional 97 shares in the last quarter. Finally, Seelaus Asset Management LLC boosted its holdings in Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after buying an additional 105 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INGR. UBS Group upped their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Stephens raised shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Oppenheimer increased their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Finally, Barclays increased their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

Ingredion Stock Performance

Ingredion stock opened at $137.42 on Friday. 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 $107.40 and a 1-year high of $155.44. The firm has a market capitalization of $8.95 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.12 and a beta of 0.75. The company’s 50-day moving average is $139.86 and its 200 day moving average is $135.52.

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

Ingredion Dividend Announcement

The business also recently announced 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. 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. 1.80% of the stock is currently owned by company insiders.

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.