New York State Common Retirement Fund Has $10.50 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

New York State Common Retirement Fund decreased its position in Ingredion Incorporated (NYSE:INGR) by 4.9% in the 4th quarter, HoldingsChannel reports. The fund owned 76,341 shares of the company’s stock after selling 3,900 shares during the period. New York State Common Retirement Fund’s holdings in Ingredion were worth $10,501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ingredion during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new stake in Ingredion in the 3rd quarter valued at $41,000. Crews Bank & Trust acquired a new position in shares of Ingredion in the 4th quarter valued at $48,000. Versant Capital Management Inc lifted its holdings in shares of Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after acquiring an additional 362 shares during the period. Finally, Concord Wealth Partners boosted its position in shares of Ingredion by 82.6% during the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after acquiring an additional 223 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 10,815 shares of the 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 of the company’s stock, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,685 shares of company stock worth $9,414,112. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

INGR has been the subject of a number of recent research reports. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. UBS Group increased their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Oppenheimer reduced their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Stephens reduced their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $130.30 on Tuesday. The business has a fifty day moving average of $133.61 and a 200-day moving average of $136.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44. The firm has a market cap of $8.36 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74.

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

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

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.