Modern Wealth Management LLC Purchases Shares of 2,188 Ingredion Incorporated (NYSE:INGR)

Modern Wealth Management LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 4th quarter, Holdings Channel reports. The fund acquired 2,188 shares of the company’s stock, valued at approximately $279,000.

A number of other large investors have also recently made changes to their positions in INGR. Prudential Financial Inc. lifted its position in Ingredion by 93.2% during the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company’s stock worth $89,790,000 after acquiring an additional 314,912 shares during the period. Walnut Level Capital LLC acquired a new stake in shares of Ingredion during the fourth quarter worth about $688,000. Vanguard Group Inc. boosted its position in Ingredion by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock valued at $1,002,222,000 after buying an additional 84,863 shares during the last quarter. LPL Financial LLC increased its holdings in Ingredion by 94.1% in the 4th quarter. LPL Financial LLC now owns 43,804 shares of the company’s stock worth $6,026,000 after buying an additional 21,231 shares during the period. Finally, Fox Run Management L.L.C. increased its holdings in Ingredion by 103.2% in the 4th quarter. Fox Run Management L.L.C. now owns 5,718 shares of the company’s stock worth $787,000 after buying an additional 2,904 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Ingredion Stock Up 0.3 %

INGR opened at $135.46 on Friday. The company has a fifty day moving average of $131.59 and a two-hundred day moving average of $136.46. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. 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 (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion during 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%. Ingredion’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 EPS. On average, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

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 $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. Ingredion’s dividend payout ratio is currently 32.96%.

Wall Street Analysts Forecast Growth

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

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.