Equitable Trust Co. Has $3.85 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Equitable Trust Co. raised its position in Ingredion Incorporated (NYSE:INGR) by 4.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,955 shares of the company’s stock after purchasing an additional 1,115 shares during the quarter. Equitable Trust Co.’s holdings in Ingredion were worth $3,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ingredion in the fourth quarter valued at about $27,000. Prospera Private Wealth LLC bought a new stake in shares of Ingredion during the third quarter valued at approximately $41,000. Crews Bank & Trust bought a new stake in shares of Ingredion during the fourth quarter valued at approximately $48,000. Versant Capital Management Inc grew its stake in shares of Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares during the last quarter. Finally, Concord Wealth Partners grew its stake in shares of Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 223 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,992 shares of company stock worth $8,913,841. Company insiders own 1.80% of the company’s stock.

Ingredion Trading Up 0.3 %

Shares of NYSE INGR opened at $127.83 on Monday. The company’s 50 day simple moving average is $137.62 and its 200 day simple moving average is $136.15. Ingredion Incorporated has a fifty-two week low of $107.77 and a fifty-two week high of $155.44. The firm has a market capitalization of $8.33 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

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

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.50%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INGR. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday. UBS Group increased their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets decreased their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Stephens decreased their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, Oppenheimer decreased their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.33.

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.