Ingredion Incorporated (NYSE:INGR) Position Trimmed by Swiss National Bank

Swiss National Bank decreased its position in Ingredion Incorporated (NYSE:INGR) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 127,900 shares of the company’s stock after selling 300 shares during the period. Swiss National Bank’s holdings in Ingredion were worth $17,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INGR. BOK Financial Private Wealth Inc. acquired a new position in Ingredion in the 4th quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ingredion in the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new position in Ingredion in the 3rd quarter worth approximately $41,000. EverSource Wealth Advisors LLC boosted its stake in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after purchasing an additional 79 shares during the period. Finally, Crews Bank & Trust acquired a new position in Ingredion in the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Stephens cut their target price 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. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Oppenheimer cut their target price 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Stock Down 0.9 %

INGR stock opened at $132.06 on Wednesday. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month 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. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.03 and a beta of 0.75. The company has a 50 day moving average of $131.57 and a two-hundred day moving average of $136.57.

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

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.42%. Ingredion’s dividend payout ratio is currently 32.96%.

Insider Activity

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

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.