Paradiem LLC Has $12.33 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Paradiem LLC grew its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 89,620 shares of the company’s stock after acquiring an additional 259 shares during the quarter. Ingredion comprises approximately 3.3% of Paradiem LLC’s holdings, making the stock its 7th largest holding. Paradiem LLC owned 0.14% of Ingredion worth $12,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ingredion in the second quarter worth $33,000. Prospera Private Wealth LLC purchased a new position in shares of Ingredion during the third quarter valued at $41,000. Abich Financial Wealth Management LLC purchased a new position in shares of Ingredion during the second quarter valued at $56,000. Versant Capital Management Inc increased its stake in shares of Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after buying an additional 362 shares during the period. Finally, Concord Wealth Partners increased its stake in shares of Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after buying an additional 223 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Ingredion Trading Down 0.8 %

Ingredion stock opened at $135.45 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 52 week low of $107.20 and a 52 week high of $155.44. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.10 and a beta of 0.75. The stock has a 50-day moving average price of $140.80 and a 200 day moving average price of $134.73.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, January 2nd. Ingredion’s payout ratio is presently 31.22%.

Insider Buying and Selling at Ingredion

In other news, CFO James D. Gray sold 54,869 shares of the business’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 value of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Larry Fernandes sold 4,700 shares of the business’s 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 completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,692 shares of company stock valued at $9,634,868. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Ingredion 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.