Institute for Wealth Management LLC. Acquires New Holdings in Ingredion Incorporated (NYSE:INGR)

Institute for Wealth Management LLC. acquired a new stake in shares of Ingredion Incorporated (NYSE:INGR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,674 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. acquired a new position in shares of Ingredion in the 4th quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings 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 buying an additional 196 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after buying an additional 79 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of NYSE INGR opened at $137.26 on Friday. The stock has a market capitalization of $8.83 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.86 and a current ratio of 2.85. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The stock has a 50 day moving average price of $135.54 and a 200 day moving average price of $134.57.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $2.08 EPS. Ingredion’s revenue was down 3.7% on a year-over-year basis. Analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.33%. Ingredion’s payout ratio is 33.76%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on INGR shares. Wall Street Zen raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 8th. UBS Group set a $155.00 price objective on Ingredion in a research report on Tuesday, April 22nd. Finally, Oppenheimer reduced their price target on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Three 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.20.

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 31,996 shares in the company, valued at $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Ingredion Company 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.