First Manhattan CO. LLC. Reduces Holdings in Ingredion Incorporated (NYSE:INGR)

First Manhattan CO. LLC. lessened its stake in Ingredion Incorporated (NYSE:INGR) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,636 shares of the company’s stock after selling 6,177 shares during the period. First Manhattan CO. LLC. owned 0.46% of Ingredion worth $41,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in INGR. BOK Financial Private Wealth Inc. acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion in the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Ingredion by 653.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after buying an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after acquiring an additional 79 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in Ingredion during the fourth quarter worth $48,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,215 shares of company stock worth $1,687,360 in the last 90 days. 2.30% of the stock is currently owned by company insiders.

Ingredion Stock Performance

Shares of INGR stock opened at $137.11 on Friday. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The company’s fifty day simple moving average is $131.56 and its 200-day simple moving average is $135.58. 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 company has a market cap of $8.82 billion, a PE ratio of 14.12, a P/E/G ratio of 1.03 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its 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 company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.33%. Ingredion’s payout ratio is currently 33.76%.

Wall Street Analyst Weigh In

INGR has been the subject of a number of recent research reports. Oppenheimer dropped their price objective on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. UBS Group set a $155.00 target price on shares of Ingredion in a report on Tuesday, April 22nd. BMO Capital Markets cut their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Stephens cut their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.20.

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.