Amalgamated Bank Cuts Position in Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank decreased its holdings in Ingredion Incorporated (NYSE:INGRFree Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 42,298 shares of the company’s stock after selling 1,254 shares during the period. Amalgamated Bank owned approximately 0.06% of Ingredion worth $4,943,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INGR. Jones Financial Companies Lllp purchased a new position in Ingredion in the fourth quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC grew its position in Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after acquiring an additional 147 shares in the last quarter. Allworth Financial LP grew its position in Ingredion by 414.1% in the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $39,000 after acquiring an additional 323 shares in the last quarter. Blue Trust Inc. grew its position in Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after acquiring an additional 103 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after acquiring an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the sale, the vice president now directly owns 1,723 shares in the company, valued at $202,245.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the sale, the vice president now directly owns 1,723 shares in the company, valued at $202,245.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the sale, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The disclosure for this sale can be found here. Insiders sold a total of 67,410 shares of company stock valued at $7,946,056 over the last 90 days. 1.80% of the stock is owned by company insiders.

Ingredion Stock Performance

Ingredion stock traded up $0.58 during mid-day trading on Tuesday, reaching $118.81. The company’s stock had a trading volume of 320,131 shares, compared to its average volume of 387,193. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.12 and a beta of 0.81. The business has a 50 day moving average price of $115.63 and a 200-day moving average price of $110.98. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $122.18.

Ingredion (NYSE:INGRGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, hitting analysts’ consensus estimates of $2.08. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The firm’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.80 earnings per share. Sell-side analysts predict that Ingredion Incorporated will post 9.67 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 1st will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Monday, July 1st. Ingredion’s dividend payout ratio is presently 31.26%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INGR. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. BMO Capital Markets increased their price objective on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Barclays increased their price objective on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and raised their price target for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. Finally, Stephens reissued an “overweight” rating and set a $130.00 price target on shares of Ingredion in a research report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.17.

Check Out Our Latest Stock Analysis on Ingredion

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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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