Kennedy Capital Management Inc. Trims Holdings in Ingredion Inc (NYSE:INGR)

Kennedy Capital Management Inc. cut its holdings in shares of Ingredion Inc (NYSE:INGR) by 1.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 38,007 shares of the company’s stock after selling 581 shares during the period. Kennedy Capital Management Inc.’s holdings in Ingredion were worth $3,599,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. OppenheimerFunds Inc. lifted its holdings in Ingredion by 34.5% during the 1st quarter. OppenheimerFunds Inc. now owns 19,475 shares of the company’s stock worth $1,844,000 after buying an additional 4,994 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Ingredion by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 889,284 shares of the company’s stock worth $84,206,000 after buying an additional 8,389 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of Ingredion in the 1st quarter valued at $562,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Ingredion in the 1st quarter valued at $1,043,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Ingredion by 122.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 429 shares of the company’s stock valued at $41,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 89.40% of the company’s stock.

In related news, CFO James D. Gray purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the purchase, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at $1,192,948.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by company insiders.

Shares of INGR opened at $81.40 on Friday. Ingredion Inc has a twelve month low of $75.67 and a twelve month high of $116.39. The firm has a market capitalization of $5.41 billion, a PE ratio of 11.76 and a beta of 0.82. The company has a current ratio of 2.41, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.12). Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. Ingredion’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts expect that Ingredion Inc will post 6.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be issued a $0.625 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.07%. Ingredion’s payout ratio is 36.13%.

A number of equities research analysts have recently weighed in on INGR shares. Seaport Global Securities started coverage on shares of Ingredion in a report on Thursday, February 21st. They issued a “buy” rating on the stock. TheStreet lowered shares of Ingredion from a “b-” rating to a “c+” rating in a report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $118.50.

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About Ingredion

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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