Bank of New Hampshire Boosts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Bank of New Hampshire increased its position in shares of Ingredion Incorporated (NYSE:INGR) by 2.0% in the 1st quarter, HoldingsChannel reports. The firm owned 17,036 shares of the company’s stock after purchasing an additional 330 shares during the period. Bank of New Hampshire’s holdings in Ingredion were worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in INGR. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ingredion by 124.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,214 shares of the company’s stock worth $2,362,000 after purchasing an additional 9,535 shares in the last quarter. Choreo LLC purchased a new position in Ingredion during the fourth quarter worth about $369,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion during the fourth quarter worth about $27,000. Lecap Asset Management Ltd. raised its holdings in Ingredion by 9.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 4,889 shares of the company’s stock worth $673,000 after purchasing an additional 416 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in Ingredion during the fourth quarter worth about $244,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INGR. Wall Street Zen upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Oppenheimer lowered their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group set a $155.00 target price on shares of Ingredion in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.20.

Insider Activity

In other news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the sale, the senior vice president now directly owns 31,996 shares in the company, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Ingredion Trading Up 0.9%

Shares of INGR opened at $137.98 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average is $133.84 and its two-hundred day moving average is $135.10. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The firm has a market capitalization of $8.87 billion, a P/E ratio of 14.21, a PEG ratio of 1.03 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 earnings per share. On average, research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.32%. Ingredion’s dividend payout ratio is presently 33.76%.

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.