Amundi Sells 48,848 Shares of Ingredion Incorporated (NYSE:INGR)

Amundi decreased its position in Ingredion Incorporated (NYSE:INGR) by 21.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 181,258 shares of the company’s stock after selling 48,848 shares during the quarter. Amundi’s holdings in Ingredion were worth $24,200,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INGR. Assetmark Inc. grew its stake in shares of Ingredion by 48.4% in the 3rd quarter. Assetmark Inc. now owns 1,325 shares of the company’s stock valued at $182,000 after buying an additional 432 shares in the last quarter. Atria Investments Inc grew its stake in shares of Ingredion by 4.8% in the 3rd quarter. Atria Investments Inc now owns 7,028 shares of the company’s stock valued at $966,000 after buying an additional 323 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Ingredion by 124.8% in the 3rd quarter. Victory Capital Management Inc. now owns 61,575 shares of the company’s stock valued at $8,462,000 after buying an additional 34,189 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Ingredion by 3.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 21,396 shares of the company’s stock valued at $2,940,000 after buying an additional 670 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Ingredion by 12.2% in the 3rd quarter. KBC Group NV now owns 1,726 shares of the company’s stock valued at $237,000 after buying an additional 187 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Down 0.2 %

INGR opened at $130.29 on Friday. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 1.03 and a beta of 0.75. The business has a 50 day moving average of $131.70 and a 200-day moving average of $136.55.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share 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 company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business earned $1.65 earnings per share. Ingredion’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. Ingredion’s payout ratio is 32.96%.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INGR shares. UBS Group upped their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Oppenheimer decreased their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Stephens decreased their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, BMO Capital Markets decreased their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report 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, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.20.

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.