Ingredion Incorporated (NYSE:INGR) Shares Sold by Keene & Associates Inc.

Keene & Associates Inc. trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,578 shares of the company’s stock after selling 146 shares during the quarter. Ingredion makes up about 3.4% of Keene & Associates Inc.’s portfolio, making the stock its 5th largest holding. Keene & Associates Inc.’s holdings in Ingredion were worth $4,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in INGR. Creative Planning increased its position in Ingredion by 5.5% in the 3rd quarter. Creative Planning now owns 11,203 shares of the company’s stock valued at $1,540,000 after acquiring an additional 584 shares during the period. Blue Trust Inc. increased its position in Ingredion by 126.1% in the 3rd quarter. Blue Trust Inc. now owns 1,343 shares of the company’s stock valued at $185,000 after acquiring an additional 749 shares during the period. Raymond James & Associates increased its position in Ingredion by 11.3% in the 3rd quarter. Raymond James & Associates now owns 230,194 shares of the company’s stock valued at $31,636,000 after acquiring an additional 23,396 shares during the period. OLD National Bancorp IN acquired a new position in Ingredion in the 3rd quarter valued at approximately $237,000. Finally, Raleigh Capital Management Inc. increased its position in Ingredion by 19.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 945 shares of the company’s stock valued at $130,000 after acquiring an additional 157 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Down 1.0 %

Shares of NYSE INGR opened at $125.52 on Wednesday. The firm has a market cap of $8.18 billion, a PE ratio of 12.93, a P/E/G ratio of 1.04 and a beta of 0.74. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44. The company’s fifty day simple moving average is $135.29 and its 200 day simple moving average is $136.50. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.09. The business 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%. Ingredion’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 earnings per share. As a group, sell-side analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.55%. Ingredion’s payout ratio is 32.96%.

Insiders Place Their Bets

In other Ingredion 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 transaction of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

INGR has been the subject of several recent research reports. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays upped their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. UBS Group upped their price objective 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. Stephens reduced their price objective 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, BMO Capital Markets reduced their price objective 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. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

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.