LS Investment Advisors LLC Cuts Holdings in Ingredion Inc (INGR)
LS Investment Advisors LLC cut its stake in Ingredion Inc (NYSE:INGR) by 15.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,993 shares of the company’s stock after selling 1,093 shares during the quarter. LS Investment Advisors LLC’s holdings in Ingredion were worth $838,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in INGR. Toronto Dominion Bank grew its stake in shares of Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after acquiring an additional 91 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Ingredion during the fourth quarter valued at about $114,000. Meeder Asset Management Inc. grew its stake in shares of Ingredion by 146.4% during the fourth quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock valued at $155,000 after acquiring an additional 659 shares in the last quarter. WFG Advisors LP grew its stake in shares of Ingredion by 0.4% during the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after acquiring an additional 6 shares in the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of Ingredion during the third quarter valued at about $173,000. 87.62% of the stock is currently owned by institutional investors.
Ingredion Inc (NYSE:INGR) opened at $129.99 on Thursday. The company has a market capitalization of $9,225.31, a PE ratio of 16.65, a P/E/G ratio of 1.41 and a beta of 0.71. Ingredion Inc has a 52 week low of $113.42 and a 52 week high of $146.28. The company has a quick ratio of 1.66, a current ratio of 2.52 and a debt-to-equity ratio of 0.60.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.40 dividend on an annualized basis and a yield of 1.85%. Ingredion’s dividend payout ratio (DPR) is 33.95%.
In related news, SVP Martin Sonntag sold 16,602 shares of Ingredion stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $135.01, for a total value of $2,241,436.02. Following the completion of the transaction, the senior vice president now directly owns 9,875 shares in the company, valued at $1,333,223.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.92% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on INGR shares. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Credit Suisse Group reiterated an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Jefferies Group set a $145.00 price target on Ingredion and gave the stock a “buy” rating in a research note on Sunday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Ingredion presently has a consensus rating of “Hold” and a consensus target price of $146.00.
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Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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