Ensign Peak Advisors Inc Has $14.22 Million Position in Ingredion Incorporated (NYSE:INGR)

Ensign Peak Advisors Inc grew its position in shares of Ingredion Incorporated (NYSE:INGR) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,349 shares of the company’s stock after purchasing an additional 3,786 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.16% of Ingredion worth $14,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ethic Inc. increased its holdings in Ingredion by 32.7% in the fourth quarter. Ethic Inc. now owns 15,101 shares of the company’s stock valued at $2,077,000 after purchasing an additional 3,720 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of Ingredion by 127.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 14,794 shares of the company’s stock valued at $2,035,000 after buying an additional 8,280 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Ingredion by 2.0% in the fourth quarter. Deutsche Bank AG now owns 26,575 shares of the company’s stock valued at $3,656,000 after buying an additional 509 shares during the period. Cetera Investment Advisers raised its position in shares of Ingredion by 10.9% during the fourth quarter. Cetera Investment Advisers now owns 11,895 shares of the company’s stock worth $1,636,000 after acquiring an additional 1,171 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Ingredion in the fourth quarter worth approximately $384,000. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Ingredion Stock Down 0.1%

Ingredion stock opened at $137.05 on Monday. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.81 billion, a PE ratio of 14.11, a PEG ratio of 1.03 and a beta of 0.73. The firm’s fifty day moving average is $131.72 and its 200 day moving average is $135.59. Ingredion Incorporated has a 12-month low of $111.54 and a 12-month high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

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

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 2,400 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the sale, the senior vice president now directly owns 31,996 shares of the company’s stock, valued at $4,345,696.72. The trade was a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,215 shares of company stock worth $1,687,360 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Ingredion 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.