GAMMA Investing LLC Acquires 162,506 Shares of Ingredion Incorporated (NYSE:INGR)

GAMMA Investing LLC increased its holdings in Ingredion Incorporated (NYSE:INGR) by 11,870.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,875 shares of the company’s stock after purchasing an additional 162,506 shares during the period. GAMMA Investing LLC’s holdings in Ingredion were worth $221,580,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after acquiring an additional 79 shares during the period. Mindset Wealth Management LLC boosted its holdings in Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after acquiring an additional 82 shares during the period. Waverly Advisors LLC boosted its holdings in Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company’s stock valued at $317,000 after acquiring an additional 84 shares during the period. Transcend Capital Advisors LLC boosted its holdings in Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after acquiring an additional 90 shares during the period. Finally, Truist Financial Corp boosted its holdings in Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after acquiring an additional 90 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president now owns 31,996 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.3%

NYSE INGR opened at $139.02 on Friday. 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 has a 50-day simple moving average of $133.58 and a 200 day simple moving average of $135.22. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The stock has a market cap of $8.94 billion, a PE ratio of 14.32, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $2.08 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. On average, research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion’s dividend payout ratio (DPR) is presently 33.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INGR shares. BMO Capital Markets decreased their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Stephens decreased their price target 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. Wall Street Zen cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Saturday. Oppenheimer reduced their target price 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. Finally, UBS Group set a $155.00 target price on shares of Ingredion in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.20.

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.