Leeward Investments LLC MA Cuts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Leeward Investments LLC MA lowered its position in Ingredion Incorporated (NYSE:INGR) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 248,983 shares of the company’s stock after selling 4,085 shares during the period. Ingredion accounts for about 1.3% of Leeward Investments LLC MA’s holdings, making the stock its 9th biggest position. Leeward Investments LLC MA owned approximately 0.38% of Ingredion worth $27,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Ingredion by 2.3% in the third quarter. Vanguard Group Inc. now owns 7,345,630 shares of the company’s stock worth $722,810,000 after purchasing an additional 161,922 shares during the last quarter. Equity Investment Corp raised its stake in shares of Ingredion by 1.4% in the third quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock worth $89,424,000 after purchasing an additional 12,427 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Ingredion by 73.0% in the third quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after purchasing an additional 317,509 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Ingredion by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 651,373 shares of the company’s stock worth $64,095,000 after purchasing an additional 16,779 shares during the last quarter. Finally, Shapiro Capital Management LLC raised its stake in shares of Ingredion by 6.9% in the third quarter. Shapiro Capital Management LLC now owns 564,405 shares of the company’s stock worth $55,537,000 after purchasing an additional 36,530 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the sale, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the transaction, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The disclosure for this sale can be found here. Insiders sold 58,921 shares of company stock valued at $6,903,045 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Performance

Shares of INGR opened at $113.29 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.08 and a beta of 0.81. The stock has a 50 day moving average of $115.22 and a 200 day moving average of $107.97. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $118.83.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $1.65 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio is currently 32.50%.

Analyst Upgrades and Downgrades

INGR has been the subject of several analyst reports. Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a research note on Wednesday, February 7th. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Barclays increased their price target on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and increased their price target for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and a consensus price target of $126.67.

About Ingredion

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.