Harbor Capital Advisors Inc. Has $6.79 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Harbor Capital Advisors Inc. lessened its position in shares of Ingredion Incorporated (NYSE:INGR) by 42.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,345 shares of the company’s stock after selling 35,685 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.08% of Ingredion worth $6,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in INGR. Pacer Advisors Inc. raised its holdings in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after buying an additional 846,967 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after purchasing an additional 174,495 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after purchasing an additional 125,543 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Ingredion in the 3rd quarter worth about $17,094,000. Finally, AQR Capital Management LLC lifted its holdings in Ingredion by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock valued at $36,902,000 after purchasing an additional 115,147 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other Ingredion news, 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 completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. This represents a 17.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 65,692 shares of company stock worth $9,634,868. 1.80% of the stock is owned by company insiders.

Ingredion Trading Down 1.9 %

INGR traded down $2.49 during midday trading on Friday, reaching $131.02. 167,521 shares of the company were exchanged, compared to its average volume of 340,343. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a market capitalization of $8.54 billion, a P/E ratio of 12.78, a PEG ratio of 1.24 and a beta of 0.75. The stock’s 50-day simple moving average is $142.90 and its 200 day simple moving average is $133.34. Ingredion Incorporated has a one year low of $107.20 and a one year high of $155.44.

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

Ingredion Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INGR shares. UBS Group raised their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. BMO Capital Markets upped their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Oppenheimer raised their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Stephens upgraded Ingredion to a “hold” rating in a research report on Monday, December 2nd. Finally, Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and a consensus price target of $155.17.

Ingredion 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.