Entropy Technologies LP Lowers Stock Position in Ingredion Incorporated (NYSE:INGR)

Entropy Technologies LP cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 25.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,925 shares of the company’s stock after selling 1,362 shares during the period. Entropy Technologies LP’s holdings in Ingredion were worth $531,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. grew its position in Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Waverly Advisors LLC grew its position in Ingredion by 3.8% in the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company’s stock valued at $317,000 after buying an additional 84 shares during the last quarter. Retirement Guys Formula LLC grew its position in Ingredion by 5.7% in the 1st quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company’s stock valued at $212,000 after buying an additional 84 shares during the last quarter. Wealthspire Advisors LLC grew its position in Ingredion by 5.8% in the 1st quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock valued at $228,000 after buying an additional 92 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in Ingredion by 1.6% in the 4th quarter. Hancock Whitney Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 108 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INGR has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Oppenheimer lowered their price objective on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wall Street Zen lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and a consensus price target of $151.40.

Ingredion Price Performance

Shares of NYSE INGR opened at $127.90 on Thursday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 12.48, a PEG ratio of 1.02 and a beta of 0.71. Ingredion Incorporated has a one year low of $120.51 and a one year high of $155.44. The company’s fifty day moving average is $134.20 and its two-hundred day moving average is $133.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78.

Ingredion (NYSE:INGR) last issued its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.87 EPS. Analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 1st. Ingredion’s payout ratio is 31.22%.

Insider Activity

In other news, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction on Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the transaction, the senior vice president owned 31,171 shares of the company’s stock, valued at $4,002,044.69. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is 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.