Carnegie Lake Advisors LLC Has $4.23 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Carnegie Lake Advisors LLC cut its holdings in Ingredion Incorporated (NYSE:INGR) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,725 shares of the company’s stock after selling 550 shares during the period. Ingredion accounts for approximately 1.7% of Carnegie Lake Advisors LLC’s portfolio, making the stock its 14th biggest holding. Carnegie Lake Advisors LLC’s holdings in Ingredion were worth $4,227,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in INGR. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Ingredion by 1.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after purchasing an additional 74 shares during the period. Signaturefd LLC grew its position in Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after buying an additional 85 shares in the last quarter. Tidal Investments LLC increased its stake in Ingredion by 0.5% during the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after acquiring an additional 94 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Ingredion by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after acquiring an additional 97 shares in the last quarter. Finally, Seelaus Asset Management LLC lifted its position in shares of Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INGR shares. Stephens lowered their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets lowered 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. Oppenheimer reduced their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Barclays upped their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group raised their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.33.

Insider Buying and Selling at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,992 shares of company stock worth $8,913,841. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Down 0.2 %

INGR opened at $127.66 on Tuesday. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The firm’s 50-day simple moving average is $137.62 and its 200-day simple moving average is $136.28. Ingredion Incorporated has a twelve month low of $107.77 and a twelve month high of $155.44.

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

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.51%. Ingredion’s dividend payout ratio is 32.96%.

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.