Amalgamated Bank Increases Stock Position in Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank boosted its stake in Ingredion Incorporated (NYSE:INGR) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,590 shares of the company’s stock after acquiring an additional 551 shares during the period. Amalgamated Bank’s holdings in Ingredion were worth $4,346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INGR. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Ingredion in the fourth quarter valued at $27,000. Prospera Private Wealth LLC purchased a new stake in Ingredion in the third quarter valued at $41,000. Crews Bank & Trust purchased a new stake in shares of Ingredion in the fourth quarter valued at about $48,000. Versant Capital Management Inc raised its holdings in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after buying an additional 362 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Ingredion in the third quarter valued at about $86,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Trading Up 0.3 %

NYSE INGR opened at $130.55 on Friday. The stock has a market capitalization of $8.38 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.03 and a beta of 0.74. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44. The firm has a 50-day moving average price of $133.02 and a 200 day moving average price of $136.52. 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 posted its quarterly 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 firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. Equities research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were given 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 2.45%. Ingredion’s payout ratio is currently 32.96%.

Insiders Place Their Bets

In other Ingredion 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 transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of research reports. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Stephens reduced their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Barclays upped 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 upped 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. Finally, Oppenheimer reduced their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price 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.