MassMutual Private Wealth & Trust FSB Decreases Stake in Ingredion Incorporated (NYSE:INGR)

MassMutual Private Wealth & Trust FSB lessened its stake in Ingredion Incorporated (NYSE:INGR) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,453 shares of the company’s stock after selling 915 shares during the quarter. MassMutual Private Wealth & Trust FSB owned 0.06% of Ingredion worth $5,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion during the second quarter worth about $33,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the 3rd quarter worth approximately $41,000. Abich Financial Wealth Management LLC purchased a new position in Ingredion in the 2nd quarter valued at approximately $56,000. Versant Capital Management Inc raised its holdings in Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after purchasing an additional 362 shares during the last quarter. Finally, Concord Wealth Partners boosted its position in Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Up 0.6 %

Shares of INGR stock opened at $135.16 on Monday. Ingredion Incorporated has a fifty-two week low of $107.20 and a fifty-two week high of $155.44. The firm’s 50 day moving average price is $141.36 and its two-hundred day moving average price is $134.40. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.75. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS 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 analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS. On average, analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 31.22%.

Analyst Upgrades and Downgrades

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

Insider Activity at Ingredion

In other news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,692 shares of company stock valued at $9,634,868. Insiders own 1.80% of the company’s stock.

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.