NewEdge Wealth LLC Has $20.45 Million Position in Ingredion Incorporated (NYSE:INGR)

NewEdge Wealth LLC lifted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 19.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 148,695 shares of the company’s stock after buying an additional 24,552 shares during the period. NewEdge Wealth LLC’s holdings in Ingredion were worth $20,454,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in Ingredion in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new stake in Ingredion during the third quarter worth $41,000. Crews Bank & Trust acquired a new stake in Ingredion in the fourth quarter valued at $48,000. Versant Capital Management Inc grew its position in shares of Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after acquiring an additional 362 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Ingredion during the 3rd quarter worth about $86,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INGR. BMO Capital Markets lowered their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. UBS Group raised their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Oppenheimer decreased 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. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Stephens decreased their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and a consensus target price of $158.20.

Insiders Place Their Bets

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 10,815 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,685 shares of company stock worth $9,414,112 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Down 1.4 %

INGR stock opened at $130.59 on Thursday. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.03 and a beta of 0.74. The business’s fifty day moving average price is $133.42 and its two-hundred day moving average price is $136.61.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The business’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors 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 yield of 2.45%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio is currently 32.96%.

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.