Acadian Asset Management LLC Has $16.68 Million Stake in Ingredion Incorporated (NYSE:INGR)

Acadian Asset Management LLC lowered its stake in Ingredion Incorporated (NYSE:INGR) by 44.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,794 shares of the company’s stock after selling 116,077 shares during the period. Acadian Asset Management LLC’s holdings in Ingredion were worth $16,677,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in INGR. Vanguard Group Inc. grew its stake in Ingredion by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock valued at $843,617,000 after buying an additional 427,496 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ingredion by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,471,587 shares of the company’s stock valued at $268,243,000 after purchasing an additional 82,599 shares during the last quarter. Equity Investment Corp increased its stake in shares of Ingredion by 2.9% in the first quarter. Equity Investment Corp now owns 952,110 shares of the company’s stock worth $111,254,000 after purchasing an additional 27,062 shares during the period. Norges Bank acquired a new position in shares of Ingredion during the 4th quarter worth about $82,272,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ingredion by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 659,532 shares of the company’s stock valued at $71,579,000 after purchasing an additional 8,159 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the transaction, the senior vice president now directly owns 28,848 shares in the company, valued at $3,436,085.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO James P. Zallie sold 27,500 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the sale, the chief executive officer now owns 52,197 shares in the company, valued at $6,073,642.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the sale, the senior vice president now owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The disclosure for this sale can be found here. Insiders sold 38,359 shares of company stock worth $4,515,644 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Ingredion Price Performance

INGR traded down $0.74 during midday trading on Friday, reaching $119.03. 343,123 shares of the company’s stock were exchanged, compared to its average volume of 499,963. Ingredion Incorporated has a one year low of $89.54 and a one year high of $122.18. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.12 and a beta of 0.72. The business has a 50-day simple moving average of $115.94 and a two-hundred day simple moving average of $114.24. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last posted its earnings results on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, hitting the consensus estimate of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the company earned $2.80 EPS. Ingredion’s revenue was down 11.9% on a year-over-year basis. As a group, research analysts predict that Ingredion Incorporated will post 9.7 EPS for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Monday, July 1st. Ingredion’s payout ratio is 31.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.17.

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.