Oakworth Capital Inc. Invests $109,000 in Ingredion Incorporated (NYSE:INGR)

Oakworth Capital Inc. purchased a new position in Ingredion Incorporated (NYSE:INGRFree Report) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,000 shares of the company’s stock, valued at approximately $109,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Ingredion in the 4th quarter valued at about $62,186,000. Arrowstreet Capital Limited Partnership lifted its position in Ingredion by 4,100.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock valued at $29,704,000 after purchasing an additional 332,719 shares during the last quarter. Nordea Investment Management AB lifted its position in Ingredion by 73.0% in the 3rd quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock valued at $74,019,000 after purchasing an additional 317,509 shares during the last quarter. Invesco Ltd. lifted its position in Ingredion by 74.6% in the 3rd quarter. Invesco Ltd. now owns 540,388 shares of the company’s stock valued at $53,174,000 after purchasing an additional 230,885 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Ingredion by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,345,630 shares of the company’s stock valued at $722,810,000 after purchasing an additional 161,922 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Performance

Ingredion stock opened at $111.30 on Thursday. The firm’s 50 day simple moving average is $114.76 and its 200-day simple moving average is $107.16. The company has a market cap of $7.30 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $118.83.

Ingredion (NYSE:INGRGet Free Report) last released its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. As a group, equities research analysts predict that Ingredion Incorporated will post 9.62 EPS for the current year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is currently 32.50%.

Wall Street Analyst Weigh In

INGR has been the topic of several research analyst reports. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Stephens reissued an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research note on Wednesday, February 7th. Barclays lifted their price objective on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.67.

Get Our Latest Stock Report on INGR

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the sale, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the sale, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $117.38, for a total transaction of $231,003.84. Following the sale, the vice president now owns 1,723 shares of the company’s stock, valued at $202,245.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,921 shares of company stock worth $6,903,045. 1.80% of the stock is owned by company insiders.

About Ingredion

(Free Report)

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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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