Nicholas Hoffman & Company LLC. Sells 425 Shares of Ingredion Incorporated (NYSE:INGR)

Nicholas Hoffman & Company LLC. lessened its holdings in Ingredion Incorporated (NYSE:INGRFree Report) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,135 shares of the company’s stock after selling 425 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Ingredion were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in Ingredion by 40.2% in the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after buying an additional 103 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in Ingredion by 1.2% in the 1st quarter. Wetherby Asset Management Inc. now owns 8,958 shares of the company’s stock valued at $911,000 after buying an additional 103 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Ingredion by 29.1% in the 3rd quarter. Geneos Wealth Management Inc. now owns 493 shares of the company’s stock valued at $49,000 after buying an additional 111 shares in the last quarter. Pflug Koory LLC grew its holdings in Ingredion by 0.9% in the 4th quarter. Pflug Koory LLC now owns 12,201 shares of the company’s stock valued at $1,324,000 after buying an additional 112 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in Ingredion by 33.7% in the 3rd quarter. IFP Advisors Inc now owns 484 shares of the company’s stock valued at $48,000 after buying an additional 122 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

NYSE:INGR traded up $1.29 during trading hours on Friday, hitting $113.62. The company’s stock had a trading volume of 360,059 shares, compared to its average volume of 338,377. The stock has a fifty day simple moving average of $114.93 and a 200-day simple moving average of $107.39. The company has a market capitalization of $7.45 billion, a P/E ratio of 11.84, a PEG ratio of 1.07 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 twelve month low of $89.54 and a twelve month high of $118.83.

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

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, March 28th. Ingredion’s payout ratio is 32.50%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INGR shares. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and increased their target price for the stock from $122.00 to $135.00 in a report on Thursday, February 15th. Stephens reissued an “overweight” rating and set a $130.00 target price on shares of Ingredion in a report on Wednesday, February 7th. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Finally, Barclays increased their target price on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.67.

Read Our Latest Analysis on Ingredion

Insider Activity

In other news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction dated 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 directly owns 1,723 shares of the company’s stock, valued at $202,245.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the transaction, the chief executive officer now directly owns 99,246 shares in the company, valued at $11,635,601.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,921 shares of company stock valued at $6,903,045. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Profile

(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.

See Also

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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