McElhenny Sheffield Capital Management LLC Invests $88,000 in Ingredion Incorporated (NYSE:INGR)

McElhenny Sheffield Capital Management LLC bought a new position in Ingredion Incorporated (NYSE:INGR – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 900 shares of the company’s stock, valued at approximately $88,000.

A number of other hedge funds also recently bought and sold shares of INGR. Acadian Asset Management LLC boosted its position in Ingredion by 1,760.0% during the first quarter. Acadian Asset Management LLC now owns 1,581 shares of the company’s stock worth $137,000 after purchasing an additional 1,496 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Ingredion by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,385 shares of the company’s stock worth $2,125,000 after purchasing an additional 2,325 shares in the last quarter. BlackRock Inc. boosted its position in Ingredion by 1.9% during the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock worth $504,608,000 after purchasing an additional 107,110 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Ingredion by 14.6% during the first quarter. Great West Life Assurance Co. Can now owns 42,242 shares of the company’s stock worth $3,791,000 after purchasing an additional 5,392 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in Ingredion by 1.2% during the first quarter. Yousif Capital Management LLC now owns 29,968 shares of the company’s stock worth $2,612,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INGR. Stephens reissued an “overweight” rating and set a $120.00 target price on shares of Ingredion in a report on Friday. Barclays cut Ingredion from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $105.00 to $110.00 in a report on Monday, January 23rd. Credit Suisse Group increased their price target on Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 9th. Finally, StockNews.com began coverage on Ingredion in a research note on Thursday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ingredion currently has an average rating of “Hold” and an average price target of $107.25.

Insider Activity at Ingredion

In related news, EVP Jorgen Kokke sold 7,119 shares of Ingredion stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $100.21, for a total value of $713,394.99. Following the completion of the transaction, the executive vice president now directly owns 36,537 shares in the company, valued at $3,661,372.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 7,120 shares of company stock worth $713,497. Company insiders own 1.68% of the company’s stock.

Ingredion Price Performance

INGR stock opened at $96.60 on Friday. The business has a fifty day moving average of $99.85 and a two-hundred day moving average of $93.80. The company has a quick ratio of 0.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.61. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 13.16 and a beta of 0.76. Ingredion Incorporated has a 52-week low of $78.81 and a 52-week high of $105.24.

Ingredion (NYSE:INGR – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. Ingredion had a return on equity of 15.70% and a net margin of 6.19%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, research analysts anticipate that Ingredion Incorporated will post 8.32 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Monday, April 3rd will be issued a $0.71 dividend. The ex-dividend date is Friday, March 31st. This represents a $2.84 dividend on an annualized basis and a yield of 2.94%. Ingredion’s dividend payout ratio (DPR) is presently 38.69%.

Ingredion Company Profile

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.