Erste Asset Management GmbH Lowers Stake in Ingredion Incorporated (NYSE:INGR)

Erste Asset Management GmbH lowered its stake in shares of Ingredion Incorporated (NYSE:INGR) by 54.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,250 shares of the company’s stock after selling 2,650 shares during the period. Erste Asset Management GmbH’s holdings in Ingredion were worth $312,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC boosted its position 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. EverSource Wealth Advisors LLC boosted its position in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after buying an additional 79 shares during the period. Transcend Capital Advisors LLC boosted its position in Ingredion by 2.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after buying an additional 90 shares during the period. Truist Financial Corp boosted its position in Ingredion by 1.3% in the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 90 shares during the period. Finally, Tidal Investments LLC boosted its position in Ingredion by 0.5% in the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Ingredion stock opened at $131.37 on Friday. The company has a fifty day simple moving average of $131.60 and a 200-day simple moving average of $136.57. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.43 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR) last announced its quarterly 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 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 business earned $1.65 EPS. Ingredion’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.44%. Ingredion’s dividend payout ratio is currently 32.96%.

Analyst Upgrades and Downgrades

INGR has been the subject of several recent research reports. Stephens decreased their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Oppenheimer decreased their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets decreased their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.20.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The shares were 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 directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by company 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.