Grace & White Inc. NY Sells 300 Shares of Ingredion Incorporated (NYSE:INGR)

Grace & White Inc. NY cut its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 149,441 shares of the company’s stock after selling 300 shares during the quarter. Ingredion comprises 2.8% of Grace & White Inc. NY’s holdings, making the stock its 9th biggest position. Grace & White Inc. NY’s holdings in Ingredion were worth $16,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INGR. Cutter & CO Brokerage Inc. boosted its holdings in Ingredion by 2.9% during the third quarter. Cutter & CO Brokerage Inc. now owns 34,577 shares of the company’s stock valued at $3,402,000 after purchasing an additional 990 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Ingredion by 833.7% during the third quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock valued at $13,442,000 after purchasing an additional 121,976 shares in the last quarter. Equity Investment Corp boosted its holdings in Ingredion by 1.4% during the third quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock valued at $89,424,000 after purchasing an additional 12,427 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Ingredion by 73.0% during the third quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock valued at $74,019,000 after purchasing an additional 317,509 shares in the last quarter. Finally, Horizon Family Wealth Inc. boosted its holdings in Ingredion by 10.9% during the third quarter. Horizon Family Wealth Inc. now owns 2,647 shares of the company’s stock valued at $260,000 after purchasing an additional 260 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INGR. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a report on Wednesday, February 7th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Barclays lifted their target price 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. Finally, The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and lifted their target price for the company from $122.00 to $135.00 in a research note on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.67.

Ingredion Trading Up 0.0 %

Shares of Ingredion stock traded up $0.04 on Tuesday, hitting $114.35. 180,054 shares of the company’s stock traded hands, compared to its average volume of 396,199. The firm’s 50-day moving average price is $115.04 and its two-hundred day moving average price is $107.60. The stock has a market capitalization of $7.50 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. Ingredion Incorporated has a one year low of $89.54 and a one year high of $118.83. 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 (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 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 company 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 earned $1.65 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. On average, research analysts expect that Ingredion Incorporated will post 9.62 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors 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 2.73%. The ex-dividend date is Thursday, March 28th. Ingredion’s payout ratio is presently 32.50%.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the transaction, the senior vice president now directly owns 28,966 shares in the company, valued at approximately $3,333,407.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the transaction, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,921 shares of company stock valued at $6,903,045. Company insiders own 1.80% of the company’s stock.

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.