Concord Wealth Partners Reduces Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Concord Wealth Partners lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 55.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 628 shares of the company’s stock after selling 782 shares during the quarter. Concord Wealth Partners’ holdings in Ingredion were worth $68,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of INGR. Blue Trust Inc. lifted its position in shares of Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Ingredion by 63.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after purchasing an additional 147 shares in the last quarter. Allworth Financial LP lifted its position in shares of Ingredion by 414.1% during the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after purchasing an additional 323 shares in the last quarter. Planned Solutions Inc. acquired a new stake in Ingredion in the fourth quarter valued at approximately $96,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Ingredion in the fourth quarter valued at approximately $101,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In other news, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the transaction, the vice president now owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 $202,245.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 54,581 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction 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 approximately $11,635,601.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,921 shares of company stock worth $6,903,045. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INGR shares. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and raised their target price for the company from $122.00 to $135.00 in a report on Thursday, February 15th. Stephens reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a report on Wednesday, February 7th. 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 report on Wednesday, March 6th. Finally, StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.67.

Ingredion Stock Performance

Shares of Ingredion stock opened at $115.20 on Friday. The firm’s fifty day simple moving average is $115.20 and its 200-day simple moving average is $108.58. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.08 and a beta of 0.81. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $118.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.10. The company had revenue of $1.92 billion for 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 was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. As a group, equities 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 issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.71%. Ingredion’s dividend payout ratio (DPR) is 32.50%.

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.