Keystone Financial Services Sells 150 Shares of Ingredion Incorporated (NYSE:INGR)

Keystone Financial Services decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,391 shares of the company’s stock after selling 150 shares during the quarter. Keystone Financial Services’ holdings in Ingredion were worth $329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC grew its position in Ingredion by 1.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after buying an additional 74 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after acquiring an additional 85 shares during the period. Tidal Investments LLC boosted 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in 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 acquiring an additional 97 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Ingredion by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock valued at $2,490,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Ingredion stock opened at $126.70 on Monday. The business’s fifty day moving average is $135.61 and its two-hundred day moving average is $136.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The firm has a market cap of $8.26 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.04 and a beta of 0.74. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. Equities research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Wall Street Analysts Forecast Growth

INGR has been the topic of several analyst reports. Barclays upped their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Oppenheimer decreased their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock 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. BMO Capital Markets reduced their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Finally, UBS Group increased their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.20.

Insiders Place Their Bets

In other Ingredion news, 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 completion of the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

About Ingredion

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.