Assetmark Inc. Has $70.07 Million Position in Ingredion Incorporated (NYSE:INGR)

Assetmark Inc. grew its position in shares of Ingredion Incorporated (NYSE:INGR) by 38,341.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 509,352 shares of the company’s stock after purchasing an additional 508,027 shares during the quarter. Assetmark Inc. owned approximately 0.78% of Ingredion worth $70,067,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in INGR. Migdal Insurance & Financial Holdings Ltd. bought a new position in Ingredion during the 4th quarter worth $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the third quarter valued at about $41,000. Crews Bank & Trust bought a new position in shares of Ingredion during the fourth quarter worth about $48,000. Versant Capital Management Inc lifted its stake in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after acquiring an additional 362 shares during the period. Finally, Quest Partners LLC bought a new stake in Ingredion in the third quarter valued at approximately $86,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INGR has been the subject of several analyst reports. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Stephens decreased their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Barclays boosted 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. Finally, Oppenheimer decreased their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Stock Performance

Shares of Ingredion stock opened at $129.13 on Wednesday. The business has a 50-day simple moving average of $132.50 and a 200 day simple moving average of $136.61. Ingredion Incorporated has a one year low of $109.51 and a one year 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 firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 13.30, 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 EPS for the quarter, beating the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, January 2nd. Ingredion’s payout ratio is presently 32.96%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

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.