Quent Capital LLC Buys 142 Shares of Ingredion Incorporated (NYSE:INGR)

Quent Capital LLC increased its stake in Ingredion Incorporated (NYSE:INGR) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 776 shares of the company’s stock after purchasing an additional 142 shares during the quarter. Quent Capital LLC’s holdings in Ingredion were worth $107,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Orion Portfolio Solutions LLC raised its holdings in shares of Ingredion by 195.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock worth $1,595,000 after purchasing an additional 7,676 shares during the period. State Street Corp raised its holdings in Ingredion by 0.8% during the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after acquiring an additional 19,560 shares during the period. Franklin Resources Inc. raised its holdings in Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after acquiring an additional 83,708 shares during the period. Principal Financial Group Inc. raised its holdings in Ingredion by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after acquiring an additional 10,812 shares during the period. Finally, Fractal Investments LLC bought a new stake in Ingredion during the 4th quarter valued at $344,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 0.6 %

Ingredion stock opened at $127.88 on Thursday. The stock has a market cap of $8.33 billion, a P/E ratio of 13.17, a PEG ratio of 1.04 and a beta of 0.74. Ingredion Incorporated has a fifty-two week low of $107.91 and a fifty-two week high of $155.44. The firm’s fifty day moving average price is $136.80 and its 200-day moving average price is $136.39. 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 released its quarterly 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. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given 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%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INGR. Barclays boosted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. BMO Capital Markets lowered their target price 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 cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Oppenheimer lowered their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company 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.