Ingredion Incorporated (NYSE:INGR) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its position in Ingredion Incorporated (NYSE:INGR) by 38.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,591 shares of the company’s stock after selling 18,754 shares during the period. Harbor Capital Advisors Inc.’s holdings in Ingredion were worth $4,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INGR. BOK Financial Private Wealth Inc. purchased a new position in Ingredion during the fourth quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after acquiring an additional 196 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Ingredion during the fourth quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after buying an additional 79 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Ingredion during the fourth quarter worth approximately $55,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value 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 approximately $4,345,696.72. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Ingredion Price Performance

INGR stock opened at $138.99 on Wednesday. The business has a fifty day moving average of $133.95 and a two-hundred day moving average of $134.96. 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 stock has a market cap of $8.94 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. As a group, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Sunday. UBS Group set a $155.00 price objective on Ingredion in a research report on Tuesday, April 22nd. Finally, Oppenheimer reduced their price objective on Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.20.

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.