Planned Solutions Inc. Acquires Shares of 885 Ingredion Incorporated (NYSE:INGR)

Planned Solutions Inc. bought a new position in Ingredion Incorporated (NYSE:INGR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 885 shares of the company’s stock, valued at approximately $96,000.

Several other hedge funds have also recently added to or reduced their stakes in INGR. West Tower Group LLC acquired a new stake in Ingredion in the second quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Ingredion in the second quarter worth about $30,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Ingredion by 63.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after buying an additional 147 shares in the last quarter. Allworth Financial LP increased its position in shares of 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 during the last quarter. Finally, IFP Advisors Inc grew its position in shares of Ingredion by 33.7% in the 3rd quarter. IFP Advisors Inc now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 122 shares during the period. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

INGR has been the topic of several research reports. Barclays upped their price target on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research report on Wednesday, February 7th. The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $135.00 in a report on Thursday, February 15th. Finally, StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Two 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.67.

Ingredion Trading Up 0.5 %

Shares of INGR opened at $118.09 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $118.83. The company has a 50 day simple moving average of $113.49 and a two-hundred day simple moving average of $105.64. The firm has a market cap of $7.75 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.11 and a beta of 0.81.

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

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is 32.50%.

Insider Buying and Selling at Ingredion

In other news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the transaction, the vice president now owns 1,723 shares in the company, valued at approximately $202,245.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the business’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 completion of the transaction, the vice president now directly owns 1,723 shares in the company, valued at approximately $202,245.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 54,581 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the transaction, the chief executive officer now directly owns 99,246 shares in the company, valued at $11,635,601.04. The disclosure for this sale can be found here. Insiders have sold 58,921 shares of company stock worth $6,903,037 in the last ninety days. 1.68% of the stock is owned by 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.