Allspring Global Investments Holdings LLC Purchases 1,594 Shares of Ingredion Incorporated (NYSE:INGR)

Allspring Global Investments Holdings LLC lifted its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 139,628 shares of the company’s stock after acquiring an additional 1,594 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Ingredion worth $15,154,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INGR. Hanson & Doremus Investment Management raised its position in shares of Ingredion by 9.4% in the fourth quarter. Hanson & Doremus Investment Management now owns 24,194 shares of the company’s stock valued at $2,626,000 after purchasing an additional 2,075 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Ingredion during the fourth quarter worth $3,700,000. Equitable Trust Co. boosted its holdings in shares of Ingredion by 10.8% in the fourth quarter. Equitable Trust Co. now owns 22,835 shares of the company’s stock worth $2,478,000 after acquiring an additional 2,219 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Ingredion by 0.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 44,889 shares of the company’s stock valued at $4,872,000 after purchasing an additional 400 shares in the last quarter. Finally, Boston Trust Walden Corp bought a new stake in shares of Ingredion during the 4th quarter valued at $220,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

INGR has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and lifted their target price for the company from $122.00 to $135.00 in a report on Thursday, February 15th. Barclays increased their target price 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. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $126.67.

Ingredion Stock Down 0.0 %

Shares of NYSE:INGR opened at $110.13 on Tuesday. The firm has a market capitalization of $7.23 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $118.83. The firm has a fifty day moving average of $114.73 and a 200 day moving average of $106.95.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 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 analyst estimates of $2.07 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. As a group, research analysts anticipate that Ingredion Incorporated will post 9.62 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.83%. Ingredion’s dividend payout ratio (DPR) is 32.50%.

Insider Activity at Ingredion

In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 1,723 shares in the company, valued at $202,245.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the completion of the sale, the senior vice president now directly owns 28,966 shares in the company, valued at approximately $3,333,407.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Davida Marie Gable sold 1,968 shares of the 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 sale, the vice president now directly owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,921 shares of company stock valued at $6,903,045. Insiders own 1.68% of the company’s stock.

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.