HBW Advisory Services LLC Sells 385 Shares of Ingredion Incorporated (NYSE:INGR)

Posted by on Mar 18th, 2023

HBW Advisory Services LLC lowered its stake in shares of Ingredion Incorporated (NYSE:INGR – Get Rating) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,181 shares of the company’s stock after selling 385 shares during the quarter. HBW Advisory Services LLC’s holdings in Ingredion were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in Ingredion by 7.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 950,603 shares of the company’s stock valued at $76,544,000 after purchasing an additional 62,383 shares during the period. Eagle Bay Advisors LLC grew its stake in Ingredion by 18.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 735 shares of the company’s stock valued at $59,000 after purchasing an additional 115 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Ingredion in the 3rd quarter valued at $849,000. Telemetry Investments L.L.C. bought a new position in Ingredion in the 3rd quarter valued at $202,000. Finally, Captrust Financial Advisors grew its stake in Ingredion by 30.8% in the 3rd quarter. Captrust Financial Advisors now owns 4,701 shares of the company’s stock valued at $379,000 after purchasing an additional 1,108 shares during the period. Institutional investors own 85.70% of the company’s stock.

Insider Buying and Selling at Ingredion

In other Ingredion news, EVP Jorgen Kokke sold 7,119 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $100.21, for a total value of $713,394.99. Following the sale, the executive vice president now owns 36,537 shares of the company’s stock, valued at approximately $3,661,372.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,120 shares of company stock valued at $713,497 in the last 90 days. Corporate insiders own 1.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays downgraded Ingredion from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $105.00 to $110.00 in a research note on Monday, January 23rd. Stephens reaffirmed an “overweight” rating and set a $120.00 price target on shares of Ingredion in a research report on Friday. Credit Suisse Group upped their price target on Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. Finally, StockNews.com initiated coverage on Ingredion in a research report on Thursday. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingredion presently has an average rating of “Hold” and an average target price of $107.25.

Ingredion Stock Up 0.4 %

Shares of NYSE INGR opened at $96.60 on Friday. The business’s fifty day moving average price is $99.85 and its 200-day moving average price is $93.76. The stock has a market capitalization of $6.37 billion, a PE ratio of 13.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.76 and a quick ratio of 0.91. Ingredion Incorporated has a one year low of $78.81 and a one year high of $105.24.

Ingredion (NYSE:INGR – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.20. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Ingredion had a return on equity of 15.70% and a net margin of 6.19%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. On average, equities research analysts anticipate that Ingredion Incorporated will post 8.32 EPS for the current year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Monday, April 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 31st. This represents a $2.84 annualized dividend and a dividend yield of 2.94%. Ingredion’s payout ratio is currently 38.69%.

Ingredion Profile

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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