Summit Investment Advisors Inc. Sells 297 Shares of Ingredion Incorporated (NYSE:INGR)

Summit Investment Advisors Inc. reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,051 shares of the company’s stock after selling 297 shares during the period. Summit Investment Advisors Inc.’s holdings in Ingredion were worth $1,795,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of INGR. Townsquare Capital LLC raised its position in Ingredion by 35.4% in the 4th quarter. Townsquare Capital LLC now owns 6,867 shares of the company’s stock valued at $945,000 after buying an additional 1,797 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Ingredion by 9.5% in the fourth quarter. Sterling Capital Management LLC now owns 14,399 shares of the company’s stock valued at $1,981,000 after purchasing an additional 1,254 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Ingredion by 2.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 83,834 shares of the company’s stock valued at $11,532,000 after purchasing an additional 2,212 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Ingredion in the 4th quarter worth about $31,752,000. Finally, Advisory Services Network LLC grew its position in Ingredion by 102.2% in the 4th quarter. Advisory Services Network LLC now owns 4,316 shares of the company’s stock worth $594,000 after purchasing an additional 2,181 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. UBS Group reaffirmed a “neutral” rating and set a $145.00 target price (down from $165.00) on shares of Ingredion in a research report on Monday, April 7th. Stephens cut their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Oppenheimer reduced 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $152.60.

Ingredion Stock Down 0.8 %

Shares of NYSE INGR opened at $130.19 on Wednesday. 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 stock has a market capitalization of $8.36 billion, a PE ratio of 13.41, a P/E/G ratio of 1.03 and a beta of 0.72. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. The business’s fifty day moving average price is $130.44 and its 200-day moving average price is $135.93.

Ingredion (NYSE:INGR) last issued its earnings results 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. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $1.65 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.46%. Ingredion’s payout ratio is 32.96%.

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.