Hillsdale Investment Management Inc. Raises Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Hillsdale Investment Management Inc. boosted its holdings in Ingredion Incorporated (NYSE:INGR) by 3,923.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,230 shares of the company’s stock after buying an additional 5,100 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Ingredion were worth $719,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC increased its position in shares of Ingredion by 195.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock valued at $1,595,000 after purchasing an additional 7,676 shares during the last quarter. State Street Corp increased its position in shares of 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 purchasing an additional 19,560 shares during the last quarter. Franklin Resources Inc. increased its position in shares of 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 purchasing an additional 83,708 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of 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 purchasing an additional 10,812 shares during the last quarter. Finally, Fractal Investments LLC purchased a new stake in shares of Ingredion during the 4th quarter valued at about $344,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the 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 owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INGR shares. Oppenheimer cut their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Stephens cut their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $158.20.

Ingredion Trading Down 1.1 %

INGR stock opened at $130.32 on Monday. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44. 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 company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.03 and a beta of 0.75. The business has a 50 day simple moving average of $131.51 and a two-hundred day simple moving average of $136.51.

Ingredion (NYSE:INGR) last issued its quarterly earnings data 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 analysts’ expectations of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. Research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Ingredion’s dividend payout ratio (DPR) is 32.96%.

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.