RHS Financial LLC Increases Stock Holdings in Ingredion Incorporated (NYSE:INGR)

RHS Financial LLC raised its stake in Ingredion Incorporated (NYSE:INGR) by 24.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,730 shares of the company’s stock after purchasing an additional 734 shares during the quarter. RHS Financial LLC’s holdings in Ingredion were worth $504,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Ingredion by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock valued at $1,002,222,000 after purchasing an additional 84,863 shares during the last quarter. Geode Capital Management LLC increased its position in Ingredion by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company’s stock worth $162,703,000 after purchasing an additional 14,741 shares in the last quarter. Invesco Ltd. increased its position in Ingredion by 5.7% during the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company’s stock worth $119,721,000 after purchasing an additional 46,819 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after acquiring an additional 89,335 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Ingredion by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 753,680 shares of the company’s stock worth $103,675,000 after purchasing an additional 28,306 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president now owns 31,996 shares in the company, valued at approximately $4,345,696.72. The trade was a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group set a $155.00 target price on Ingredion in a research report on Tuesday, April 22nd. Oppenheimer reduced their price objective on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.20.

Ingredion Stock Down 0.9%

INGR stock opened at $138.22 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The firm has a market cap of $8.89 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. The business has a 50 day moving average of $134.70 and a 200 day moving average of $134.85.

Ingredion (NYSE:INGR) last released 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 firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The company’s quarterly 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 fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be paid a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.32%. Ingredion’s dividend payout ratio is presently 33.76%.

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.