Moran Wealth Management LLC Makes New Investment in Ingredion Incorporated (NYSE:INGR)

Moran Wealth Management LLC purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,510 shares of the company’s stock, valued at approximately $208,000.

Several other large investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ingredion by 24.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,491 shares of the company’s stock worth $2,269,000 after purchasing an additional 3,292 shares during the period. Taika Capital LP acquired a new stake in shares of Ingredion in the 4th quarter valued at about $729,000. BOK Financial Private Wealth Inc. bought a new stake in Ingredion in the 4th quarter valued at about $25,000. AlphaQuest LLC raised its stake in Ingredion by 286.8% during the 4th quarter. AlphaQuest LLC now owns 2,429 shares of the company’s stock worth $334,000 after buying an additional 1,801 shares during the period. Finally, Machina Capital S.A.S. bought a new position in Ingredion in the fourth quarter worth approximately $232,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In related news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the transaction, the chief executive officer now owns 34,127 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stephens decreased their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Oppenheimer lowered their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group upped their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets cut their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.20.

Ingredion Stock Down 2.0 %

INGR opened at $130.39 on Thursday. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. The firm has a market capitalization of $8.37 billion, a P/E ratio of 13.43, a PEG ratio of 1.03 and a beta of 0.75. The company’s 50-day moving average is $131.83 and its 200 day moving average is $136.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. Research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.45%. Ingredion’s dividend payout ratio (DPR) 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.