WCM Investment Management LLC Sells 339 Shares of Ingredion Incorporated (NYSE:INGR)

by · The Cerbat Gem

WCM Investment Management LLC lessened its holdings in Ingredion Incorporated (NYSE:INGR – Free Report) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,671 shares of the company’s stock after selling 339 shares during the period. WCM Investment Management LLC’s holdings in Ingredion were worth $495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in Ingredion by 1.9% in the 4th quarter. First Trust Advisors LP now owns 583,081 shares of the company’s stock valued at $80,209,000 after buying an additional 10,703 shares during the last quarter. Magnetar Financial LLC increased its stake in Ingredion by 606.2% in the 4th quarter. Magnetar Financial LLC now owns 38,023 shares of the company’s stock valued at $5,230,000 after buying an additional 32,639 shares during the last quarter. Prudential Financial Inc. increased its stake in Ingredion by 93.2% in the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company’s stock valued at $89,790,000 after buying an additional 314,912 shares during the last quarter. Level Four Advisory Services LLC increased its stake in Ingredion by 6.7% in the 4th quarter. Level Four Advisory Services LLC now owns 35,428 shares of the company’s stock valued at $4,874,000 after buying an additional 2,210 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in Ingredion by 156.7% in the 1st quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company’s stock valued at $1,499,000 after buying an additional 6,768 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Down 0.6%

INGR opened at $137.35 on Friday. The company has a 50 day moving average of $136.93 and a 200 day moving average of $133.97. The company has a market cap of $8.83 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.11 and a beta of 0.72. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR – Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. Ingredion’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

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

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president directly owned 31,996 shares of the company’s stock, valued at $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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Ingredion Profile

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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.

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