Corient Private Wealth LLC Cuts Stake in Ingredion Incorporated (NYSE:INGR)

Corient Private Wealth LLC reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 26,834 shares of the company’s stock after selling 934 shares during the period. Corient Private Wealth LLC’s holdings in Ingredion were worth $3,691,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. purchased a new position in Ingredion in the fourth quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC purchased a new position in Ingredion in the third quarter valued at approximately $41,000. EverSource Wealth Advisors LLC raised its holdings in Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after buying an additional 79 shares during the period. Finally, Crews Bank & Trust purchased a new position in Ingredion in the fourth quarter valued at approximately $48,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on INGR shares. BMO Capital Markets cut their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Oppenheimer lowered their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Stephens lowered their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.20.

Ingredion Stock Down 1.1 %

Shares of NYSE:INGR opened at $130.32 on Friday. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. The company has a 50 day moving average of $131.51 and a two-hundred day moving average of $136.50.

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

Ingredion Announces Dividend

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 dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s payout ratio is currently 32.96%.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion 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 completion of the transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

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.