LSV Asset Management Has $242.27 Million Stake in Ingredion Incorporated (NYSE:INGR)

LSV Asset Management lowered its stake in Ingredion Incorporated (NYSE:INGR) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,232,323 shares of the company’s stock after selling 27,859 shares during the period. LSV Asset Management owned 3.42% of Ingredion worth $242,274,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Kestra Private Wealth Services LLC bought a new stake in shares of Ingredion during the fourth quarter worth approximately $426,000. Van ECK Associates Corp boosted its position in shares of Ingredion by 55.6% in the 4th quarter. Van ECK Associates Corp now owns 55,511 shares of the company’s stock worth $6,024,000 after purchasing an additional 19,826 shares during the last quarter. IVY Lane Capital Management LLC increased its holdings in Ingredion by 44.0% in the fourth quarter. IVY Lane Capital Management LLC now owns 72,000 shares of the company’s stock valued at $7,814,000 after purchasing an additional 22,000 shares during the last quarter. Paradiem LLC raised its position in shares of Ingredion by 64.2% in the 4th quarter. Paradiem LLC now owns 73,190 shares of the company’s stock valued at $7,943,000 after acquiring an additional 28,617 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in Ingredion by 15.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 64,781 shares of the company’s stock valued at $7,031,000 after purchasing an additional 8,876 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the transaction, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction dated 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 sale, the vice president now owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the transaction, the senior vice president now owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,921 shares of company stock worth $6,903,045. Corporate insiders own 1.80% of the company’s stock.

Ingredion Trading Down 0.6 %

NYSE:INGR traded down $0.69 during mid-day trading on Friday, hitting $114.56. 200,871 shares of the company’s stock were exchanged, compared to its average volume of 313,484. The firm has a market capitalization of $7.52 billion, a P/E ratio of 11.93, a PEG ratio of 1.08 and a beta of 0.81. The company has a 50 day simple moving average of $115.19 and a 200-day simple moving average of $108.84. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $118.83.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. Ingredion’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 earnings per share. As a group, research analysts expect that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is currently 32.50%.

Analyst Upgrades and Downgrades

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