Sciencast Management LP Buys Shares of 11,452 Ingredion Incorporated (NYSE:INGR)

Sciencast Management LP acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,452 shares of the company’s stock, valued at approximately $1,575,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Ingredion by 1.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after buying an additional 74 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after buying an additional 79 shares during the period. Mindset Wealth Management LLC boosted its position in shares of Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock worth $538,000 after buying an additional 82 shares during the period. Transcend Capital Advisors LLC raised its holdings in Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after purchasing an additional 90 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after purchasing an additional 90 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Price Performance

NYSE INGR opened at $130.32 on Friday. The stock has a market capitalization of $8.36 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The business’s fifty day moving average is $131.51 and its two-hundred day moving average is $136.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62.

Ingredion (NYSE:INGR) last posted 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 firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company posted $1.65 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed 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. This represents a $3.20 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, April 1st. Ingredion’s payout ratio is 32.96%.

Analyst Upgrades and Downgrades

INGR has been the topic of several recent analyst reports. Stephens dropped their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. BMO Capital Markets dropped their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Oppenheimer dropped their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

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.