EMC Capital Management Acquires 5,182 Shares of Ingredion Incorporated (NYSE:INGR)

EMC Capital Management lifted its holdings in Ingredion Incorporated (NYSE:INGR) by 9,421.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,237 shares of the company’s stock after acquiring an additional 5,182 shares during the period. Ingredion accounts for about 0.4% of EMC Capital Management’s portfolio, making the stock its 17th biggest holding. EMC Capital Management’s holdings in Ingredion were worth $720,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its position in shares of Ingredion by 195.2% during the third quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock valued at $1,595,000 after purchasing an additional 7,676 shares in the last quarter. State Street Corp boosted its stake in Ingredion by 0.8% during the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after buying an additional 19,560 shares during the last quarter. Franklin Resources Inc. grew its holdings in Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after buying an additional 83,708 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ingredion by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock worth $99,683,000 after acquiring an additional 10,812 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Ingredion by 13.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 305,827 shares of the company’s stock valued at $42,030,000 after acquiring an additional 35,657 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

Ingredion stock opened at $138.04 on Thursday. Ingredion Incorporated has a 1-year low of $107.40 and a 1-year high of $155.44. The company’s 50-day moving average is $139.86 and its 200 day moving average is $135.52. The firm has a market capitalization of $8.99 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.10 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

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

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is presently 31.22%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 document filed with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,692 shares of company stock valued at $9,634,868 in the last 90 days. 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.