Ingredion Incorporated (NYSE:INGR) is Paradiem LLC’s 10th Largest Position

Paradiem LLC boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 64.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,190 shares of the company’s stock after acquiring an additional 28,617 shares during the quarter. Ingredion accounts for 2.2% of Paradiem LLC’s portfolio, making the stock its 10th biggest holding. Paradiem LLC owned about 0.11% of Ingredion worth $7,943,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of Ingredion by 73.0% in the 3rd quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after buying an additional 317,509 shares during the period. Invesco Ltd. lifted its holdings in shares of Ingredion by 74.6% in the 3rd quarter. Invesco Ltd. now owns 540,388 shares of the company’s stock worth $53,174,000 after buying an additional 230,885 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ingredion by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,345,630 shares of the company’s stock worth $722,810,000 after buying an additional 161,922 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Ingredion by 833.7% in the 3rd quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock worth $13,442,000 after buying an additional 121,976 shares during the period. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of Ingredion in the 3rd quarter worth $7,889,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INGR. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Stephens restated an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research note on Wednesday, February 7th. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and upped their target price for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Finally, Barclays upped their target price on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Two 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.67.

Ingredion Price Performance

Shares of Ingredion stock traded down $1.19 during trading hours on Friday, reaching $113.29. The stock had a trading volume of 296,644 shares, compared to its average volume of 312,414. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $118.83. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.43 billion, a PE ratio of 11.80, a PEG ratio of 1.07 and a beta of 0.81. The stock’s 50 day moving average is $115.22 and its 200 day moving average is $108.06.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. Equities analysts expect that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. Ingredion’s payout ratio is presently 32.50%.

Insider Activity at Ingredion

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

Ingredion 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.