Mercer Global Advisors Inc. ADV Sells 1,837 Shares of Ingredion Incorporated (NYSE:INGR)

Mercer Global Advisors Inc. ADV lowered its stake in shares of Ingredion Incorporated (NYSE:INGR) by 11.5% during the fourth quarter, HoldingsChannel reports. The firm owned 14,101 shares of the company’s stock after selling 1,837 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Ingredion were worth $1,940,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new stake in Ingredion during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ingredion during the 4th quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in Ingredion during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

NYSE:INGR opened at $135.65 on Thursday. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The firm’s 50-day simple moving average is $131.43 and its 200 day simple moving average is $135.55. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.97, a P/E/G 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 earnings per share. As a group, sell-side analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is currently 33.76%.

Wall Street Analyst Weigh In

Several research firms have issued reports on INGR. UBS Group set a $155.00 price objective on Ingredion in a research note on Tuesday, April 22nd. BMO Capital Markets dropped their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Oppenheimer dropped their price objective 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, Stephens reduced their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.20.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.

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.