Amalgamated Bank Reduces Holdings in Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,552 shares of the company’s stock after selling 4,528 shares during the period. Amalgamated Bank’s holdings in Ingredion were worth $4,727,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INGR. Vanguard Group Inc. raised its position in Ingredion by 2.3% during the third quarter. Vanguard Group Inc. now owns 7,345,630 shares of the company’s stock valued at $722,810,000 after purchasing an additional 161,922 shares during the period. Equity Investment Corp raised its stake in shares of Ingredion by 1.4% in the third quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock valued at $89,424,000 after acquiring an additional 12,427 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Ingredion by 73.0% in the 3rd quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after acquiring an additional 317,509 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ingredion by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 651,373 shares of the company’s stock worth $64,095,000 after purchasing an additional 16,779 shares during the period. Finally, Shapiro Capital Management LLC raised its position in Ingredion by 6.9% in the 3rd quarter. Shapiro Capital Management LLC now owns 564,405 shares of the company’s stock worth $55,537,000 after purchasing an additional 36,530 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Performance

NYSE INGR opened at $116.60 on Wednesday. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $118.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92. The firm has a market capitalization of $7.65 billion, a P/E ratio of 12.15, a PEG ratio of 1.08 and a beta of 0.81. The stock has a 50-day simple moving average of $115.24 and a two-hundred day simple moving average of $109.31.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. Ingredion’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. On average, equities analysts forecast that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is presently 32.50%.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now owns 28,966 shares of the company’s stock, valued at approximately $3,333,407.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the sale, the senior vice president now owns 28,966 shares of the company’s stock, valued at approximately $3,333,407.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the sale, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,921 shares of company stock worth $6,903,045. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on INGR shares. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. The Goldman Sachs Group raised 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 report on Thursday, February 15th. Barclays lifted their target price on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Finally, Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and a consensus target price of $126.67.

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.