Envestnet Asset Management Inc. Trims Holdings in Ingredion Incorporated (NYSE:INGR)

Envestnet Asset Management Inc. lowered its position in Ingredion Incorporated (NYSE:INGR) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,484 shares of the company’s stock after selling 17,391 shares during the period. Envestnet Asset Management Inc.’s holdings in Ingredion were worth $26,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Ingredion by 1.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after acquiring an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares during the period. Mindset Wealth Management LLC boosted its holdings in Ingredion by 2.1% in the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after purchasing an additional 82 shares during the last quarter. Transcend Capital Advisors LLC grew its position in Ingredion by 2.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after purchasing an additional 90 shares during the period. Finally, Truist Financial Corp raised its stake in shares of Ingredion by 1.3% during the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions 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 value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on INGR shares. UBS Group reaffirmed a “neutral” rating and set a $145.00 target price (down from $165.00) on shares of Ingredion in a report on Monday, April 7th. BMO Capital Markets cut their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Stephens decreased their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Oppenheimer dropped their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $152.60.

Ingredion Price Performance

Shares of NYSE INGR opened at $129.88 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The firm has a fifty day moving average of $130.28 and a 200 day moving average of $136.02. The firm has a market cap of $8.34 billion, a PE ratio of 13.38, a PEG ratio of 1.03 and a beta of 0.72. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44.

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

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given a $0.80 dividend. The ex-dividend date of this dividend 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 presently 32.96%.

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.