Amalgamated Bank Grows Stock Position in Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank increased its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,590 shares of the company’s stock after buying an additional 551 shares during the quarter. Amalgamated Bank’s holdings in Ingredion were worth $4,346,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INGR. State Street Corp raised its position in Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after purchasing an additional 19,560 shares during the period. Pacer Advisors Inc. raised its position in Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after purchasing an additional 268,389 shares during the period. Massachusetts Financial Services Co. MA raised its position in Ingredion by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after purchasing an additional 36,421 shares during the period. Geode Capital Management LLC raised its position in Ingredion by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock valued at $160,516,000 after purchasing an additional 19,064 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Ingredion by 11.9% in the fourth quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after purchasing an additional 89,335 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

INGR has been the topic of a number of research analyst reports. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Stephens cut their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Oppenheimer dropped their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Stock Performance

NYSE:INGR opened at $130.55 on Friday. The company has a fifty day simple moving average of $133.02 and a two-hundred day simple moving average of $136.52. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. As a group, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.45%. Ingredion’s payout ratio is currently 32.96%.

About Ingredion

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.