Harvest Fund Management Co. Ltd Has $464,000 Stock Position in Ingredion Incorporated (NYSE:INGR)

Harvest Fund Management Co. Ltd raised its position in Ingredion Incorporated (NYSE:INGR) by 1,231.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,369 shares of the company’s stock after acquiring an additional 3,116 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Ingredion were worth $464,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in INGR. State Street Corp raised its holdings in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after buying an additional 19,560 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after buying an additional 268,389 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after buying an additional 36,421 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock worth $160,516,000 after buying an additional 19,064 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock worth $115,930,000 after buying an additional 89,335 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INGR. Oppenheimer dropped their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Stephens decreased their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets decreased 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $158.20.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Ingredion Stock Down 1.1 %

Shares of INGR opened at $130.32 on Friday. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.03 and a beta of 0.75. 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 business’s fifty day moving average price is $131.51 and its two-hundred day moving average price is $136.48. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last posted 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. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company earned $1.65 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, analysts predict 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 will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Ingredion’s dividend payout ratio is currently 32.96%.

Ingredion 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.