Raleigh Capital Management Inc. Has $115,000 Holdings in Ingredion Incorporated (NYSE:INGR)

Raleigh Capital Management Inc. trimmed its position in shares of Ingredion Incorporated (NYSE:INGR) by 11.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 835 shares of the company’s stock after selling 110 shares during the period. Raleigh Capital Management Inc.’s holdings in Ingredion were worth $115,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INGR. Renaissance Technologies LLC raised its position in Ingredion by 154.0% during the second quarter. Renaissance Technologies LLC now owns 41,405 shares of the company’s stock valued at $4,749,000 after acquiring an additional 25,105 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Ingredion by 191.0% during the 2nd quarter. Hsbc Holdings PLC now owns 19,970 shares of the company’s stock valued at $2,292,000 after purchasing an additional 13,108 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Ingredion by 30.8% in the 2nd quarter. Sei Investments Co. now owns 148,950 shares of the company’s stock valued at $17,084,000 after purchasing an additional 35,074 shares during the last quarter. Point72 DIFC Ltd boosted its holdings in Ingredion by 2,629.3% in the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after purchasing an additional 3,681 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Ingredion by 154.5% in the second quarter. Cubist Systematic Strategies LLC now owns 49,975 shares of the company’s stock worth $5,732,000 after purchasing an additional 30,339 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 1.0 %

Shares of INGR stock opened at $136.79 on Friday. The firm has a market capitalization of $8.91 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75. Ingredion Incorporated has a 1 year low of $107.20 and a 1 year high of $155.44. The firm’s fifty day simple moving average is $140.51 and its 200 day simple moving average is $134.73. 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 (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating 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 analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, sell-side analysts predict that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, January 2nd. Ingredion’s payout ratio is presently 31.22%.

Insider Activity

In related news, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,692 shares of company stock worth $9,634,868. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

INGR has been the subject of a number of analyst reports. UBS Group boosted their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Stephens raised Ingredion to a “hold” rating in a research report on Monday, December 2nd. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a 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, Ingredion currently has an average rating of “Moderate Buy” and an average price target of $155.17.

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.