Advisors Asset Management Inc. Has $4.70 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Advisors Asset Management Inc. grew its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,137 shares of the company’s stock after buying an additional 4,984 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ingredion were worth $4,696,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ingredion in the fourth quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Ingredion during the fourth quarter worth $27,000. Prospera Private Wealth LLC purchased a new stake in Ingredion in the 3rd quarter valued at $41,000. EverSource Wealth Advisors LLC lifted its stake in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after acquiring an additional 79 shares in the last quarter. Finally, Crews Bank & Trust purchased a new position in Ingredion during the 4th quarter worth $48,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INGR shares. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Oppenheimer dropped their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets reduced their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, Stephens dropped their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and an average target price of $158.20.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the firm’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 value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.3 %

INGR opened at $132.41 on Thursday. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44. The company’s 50-day moving average price is $131.55 and its two-hundred day moving average price is $136.54. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.03 and a beta of 0.75. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.42%. Ingredion’s dividend payout ratio is presently 32.96%.

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.