Ingredion Incorporated (NYSE:INGR) Shares Sold by New Age Alpha Advisors LLC

by · The Cerbat Gem

New Age Alpha Advisors LLC cut its stake in shares of Ingredion Incorporated (NYSE:INGRFree Report) by 18.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,584 shares of the company’s stock after selling 7,898 shares during the quarter. New Age Alpha Advisors LLC owned 0.06% of Ingredion worth $4,811,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. NewEdge Wealth LLC lifted its holdings in shares of Ingredion by 5.5% during the first quarter. NewEdge Wealth LLC now owns 156,836 shares of the company’s stock worth $21,206,000 after purchasing an additional 8,141 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in Ingredion by 38.2% in the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock valued at $46,268,000 after acquiring an additional 94,575 shares during the period. UNIVEST FINANCIAL Corp lifted its holdings in Ingredion by 11.1% in the first quarter. UNIVEST FINANCIAL Corp now owns 10,713 shares of the company’s stock valued at $1,449,000 after acquiring an additional 1,067 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Ingredion during the 1st quarter worth $287,000. Finally, Foster & Motley Inc. raised its stake in shares of Ingredion by 41.7% during the 1st quarter. Foster & Motley Inc. now owns 23,832 shares of the company’s stock worth $3,222,000 after buying an additional 7,017 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Down 0.3%

INGR opened at $126.19 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The business has a 50-day moving average of $135.64 and a two-hundred day moving average of $133.47. Ingredion Incorporated has a 12 month low of $120.51 and a 12 month high of $155.44.

Ingredion (NYSE:INGRGet Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.87 EPS. On average, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, July 1st. Ingredion’s dividend payout ratio is currently 31.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group lifted their price target on Ingredion from $149.00 to $151.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Oppenheimer dropped their price objective on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 8th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $151.40.

Read Our Latest Research Report on Ingredion

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the transaction, the senior vice president owned 31,171 shares in the company, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

About Ingredion

(Free Report)

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.

See Also

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