Lowe Brockenbrough & Co. Inc. Lowers Position in Ingredion Incorporated (NYSE:INGR)

Lowe Brockenbrough & Co. Inc. decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,212 shares of the company’s stock after selling 166 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Ingredion were worth $855,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in Ingredion during the fourth quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Ingredion in the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new stake in Ingredion in the third quarter worth approximately $41,000. EverSource Wealth Advisors LLC grew its position in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Ingredion during the fourth quarter worth approximately $48,000. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stephens cut their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Oppenheimer reduced their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets lowered their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Stock Down 1.1 %

NYSE INGR opened at $130.32 on Friday. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The stock has a market capitalization of $8.36 billion, a PE ratio of 13.42, a PEG ratio of 1.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The business’s 50-day moving average is $131.51 and its 200 day moving average is $136.48.

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

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Ingredion’s dividend payout ratio is 32.96%.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

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.