Ingredion Incorporated (NYSE:INGR) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,738 shares of the company’s stock after purchasing an additional 342 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ingredion were worth $2,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Ingredion in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the 3rd quarter worth approximately $41,000. Crews Bank & Trust bought a new position in shares of Ingredion in the fourth quarter valued at approximately $48,000. Versant Capital Management Inc increased its stake in shares of Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after acquiring an additional 362 shares during the period. Finally, Quest Partners LLC bought a new stake in Ingredion during the third quarter worth approximately $86,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer decreased their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Stephens decreased their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Barclays boosted their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, UBS Group boosted 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Trading Up 0.3 %

NYSE:INGR opened at $130.55 on Friday. The stock has a fifty day simple moving average of $132.87 and a 200 day simple moving average of $136.54. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year 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.

Ingredion (NYSE:INGR) last announced 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. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.45%. Ingredion’s payout ratio is currently 32.96%.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

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.