Lebenthal Global Advisors LLC Has $875,000 Holdings in Ingredion Incorporated (NYSE:INGR)

Lebenthal Global Advisors LLC increased its position in shares of Ingredion Incorporated (NYSE:INGR) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,358 shares of the company’s stock after purchasing an additional 188 shares during the period. Lebenthal Global Advisors LLC’s holdings in Ingredion were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INGR. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion in the 2nd quarter valued at $33,000. Prospera Private Wealth LLC bought a new stake in Ingredion during the third quarter worth about $41,000. Versant Capital Management Inc raised its stake in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after acquiring an additional 362 shares during the last quarter. Concord Wealth Partners boosted its holdings in shares of Ingredion by 82.6% in the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after acquiring an additional 223 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Ingredion in the 3rd quarter worth approximately $86,000. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,692 shares of company stock worth $9,634,868 in the last three months. Insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $136.43 on Tuesday. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 1-year low of $107.40 and a 1-year high of $155.44. The stock has a market capitalization of $8.89 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.10 and a beta of 0.75. The business has a 50-day moving average price of $140.16 and a two-hundred day moving average price of $135.22.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. Ingredion’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts predict that Ingredion Incorporated will post 10.59 earnings per share 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 paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

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.