Bruce G. Allen Investments LLC Has $127,000 Position in Ingredion Incorporated (NYSE:INGR)

Bruce G. Allen Investments LLC lessened its stake in Ingredion Incorporated (NYSE:INGR) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 921 shares of the company’s stock after selling 133 shares during the period. Bruce G. Allen Investments LLC’s holdings in Ingredion were worth $127,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its position in shares of Ingredion by 195.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock worth $1,595,000 after purchasing an additional 7,676 shares in the last quarter. State Street Corp raised its position in shares of Ingredion by 0.8% during the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after purchasing an additional 19,560 shares during the period. Point72 DIFC Ltd lifted its holdings in shares of Ingredion by 2,629.3% in the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after purchasing an additional 3,681 shares in the last quarter. Franklin Resources Inc. grew its position in Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after purchasing an additional 83,708 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Ingredion by 55.7% during the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock worth $36,902,000 after buying an additional 115,147 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Performance

Shares of INGR stock traded down $2.60 during trading on Friday, reaching $130.91. 454,324 shares of the company’s stock traded hands, compared to its average volume of 376,279. The firm’s 50-day moving average is $142.90 and its 200 day moving average is $133.34. The company has a market capitalization of $8.53 billion, a P/E ratio of 12.77, a PEG ratio of 1.24 and a beta of 0.75. Ingredion Incorporated has a 1 year low of $107.20 and a 1 year high of $155.44. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Equities research analysts expect that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.44%. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Activity at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on 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 transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,692 shares of company stock valued at $9,634,868 over the last three months. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on INGR. 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. Oppenheimer lifted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

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.