Bank of New Hampshire Cuts Holdings in Ingredion Incorporated (NYSE:INGR)

Bank of New Hampshire cut its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,066 shares of the company’s stock after selling 121 shares during the quarter. Bank of New Hampshire’s holdings in Ingredion were worth $1,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new position in Ingredion in the third quarter valued at about $453,000. IFP Advisors Inc increased its holdings in Ingredion by 33.7% during the 3rd quarter. IFP Advisors Inc now owns 484 shares of the company’s stock worth $48,000 after acquiring an additional 122 shares during the period. DAVENPORT & Co LLC increased its holdings in Ingredion by 7.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 85,614 shares of the company’s stock worth $8,424,000 after acquiring an additional 5,676 shares during the period. Washington Trust Advisors Inc. increased its holdings in Ingredion by 224.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 3,789 shares of the company’s stock worth $373,000 after acquiring an additional 2,620 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Ingredion by 9.0% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,986 shares of the company’s stock worth $392,000 after buying an additional 328 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the transaction, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,921 shares of company stock worth $6,903,045. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and upped their price objective for the company from $122.00 to $135.00 in a research note on Thursday, February 15th. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a report on Wednesday, February 7th. Barclays increased their price target on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Finally, StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.67.

Ingredion Stock Performance

Shares of INGR traded down $0.50 on Friday, reaching $113.98. The company’s stock had a trading volume of 71,697 shares, compared to its average volume of 387,230. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $118.83. The stock has a market capitalization of $7.48 billion, a P/E ratio of 11.90, a PEG ratio of 1.09 and a beta of 0.81. The stock’s 50 day simple moving average is $115.24 and its two-hundred day simple moving average is $107.84.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. Research analysts forecast that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio is presently 32.50%.

Ingredion Company 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.