Ingredion Incorporated (NYSE:INGR) Shares Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. increased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,827 shares of the company’s stock after purchasing an additional 140 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Ingredion were worth $788,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 79 shares during the last quarter. Mindset Wealth Management LLC lifted its stake in Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock worth $538,000 after purchasing an additional 82 shares during the last quarter. Waverly Advisors LLC lifted its stake in Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company’s stock worth $317,000 after purchasing an additional 84 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock worth $594,000 after purchasing an additional 90 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Ingredion stock opened at $139.48 on Friday. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The business has a 50 day simple moving average of $134.10 and a 200-day simple moving average of $134.98. The stock has a market capitalization of $8.97 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings data 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 firm 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%. Ingredion’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 earnings per share. Equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.29%. The ex-dividend date is Tuesday, July 1st. Ingredion’s payout ratio is 33.76%.

Analyst Ratings Changes

Several research firms recently weighed in on INGR. Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. Oppenheimer reduced their price objective on 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 price objective on Ingredion in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and a consensus price target of $152.20.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the company’s 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 sale, the senior vice president now owns 31,996 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.

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.