Wedge Capital Management L L P NC Sells 6,882 Shares of Ingredion Incorporated (NYSE:INGR)

Wedge Capital Management L L P NC lowered its position in Ingredion Incorporated (NYSE:INGR) by 12.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,242 shares of the company’s stock after selling 6,882 shares during the period. Wedge Capital Management L L P NC owned 0.07% of Ingredion worth $6,499,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its position in Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after buying an additional 85 shares during the period. Tidal Investments LLC increased its stake in shares of Ingredion by 0.5% in the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after acquiring an additional 94 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Ingredion by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after acquiring an additional 97 shares during the period. Seelaus Asset Management LLC boosted its position in shares of Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after purchasing an additional 105 shares in the last quarter. Finally, Delphi Management Inc. MA grew its stake in shares of Ingredion by 0.8% in the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INGR shares. BMO Capital Markets increased their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Oppenheimer lifted their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group boosted their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Stephens raised shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Stock Performance

NYSE:INGR opened at $135.16 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a 50-day simple moving average of $141.36 and a two-hundred day simple moving average of $134.25. The firm has a market capitalization of $8.81 billion, a PE ratio of 13.19, a P/E/G ratio of 1.07 and a beta of 0.75. Ingredion Incorporated has a 52-week low of $107.20 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd will be paid a $0.80 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.37%. Ingredion’s payout ratio is 31.22%.

Insider Buying and Selling at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,692 shares of company stock valued at $9,634,868 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.