Nuveen Asset Management LLC Sells 528 Shares of Ingredion Incorporated (NYSE:INGR)

Nuveen Asset Management LLC decreased its position in Ingredion Incorporated (NYSE:INGR) by 0.2% during the fourth quarter, HoldingsChannel reports. The firm owned 210,852 shares of the company’s stock after selling 528 shares during the quarter. Nuveen Asset Management LLC’s holdings in Ingredion were worth $29,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its stake in shares of Ingredion by 1.9% in the fourth quarter. First Trust Advisors LP now owns 583,081 shares of the company’s stock worth $80,209,000 after purchasing an additional 10,703 shares during the period. Magnetar Financial LLC grew its holdings in Ingredion by 606.2% in the 4th quarter. Magnetar Financial LLC now owns 38,023 shares of the company’s stock valued at $5,230,000 after buying an additional 32,639 shares during the last quarter. Fractal Investments LLC acquired a new stake in Ingredion in the 4th quarter valued at approximately $344,000. Paradigm Asset Management Co. LLC acquired a new stake in Ingredion in the 4th quarter valued at approximately $963,000. Finally, Prudential Financial Inc. grew its holdings in Ingredion by 93.2% in the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company’s stock valued at $89,790,000 after buying an additional 314,912 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

INGR has been the topic of a number of research analyst reports. UBS Group set a $155.00 target price on Ingredion in a report on Tuesday, April 22nd. Oppenheimer cut their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Stephens cut their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets cut their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Monday. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.20.

Ingredion Trading Down 1.8%

Shares of INGR stock opened at $138.43 on Thursday. Ingredion Incorporated has a 52-week low of $111.54 and a 52-week high of $155.44. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The firm has a fifty day moving average of $132.76 and a 200-day moving average of $135.83.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The business’s revenue was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.31%. Ingredion’s payout ratio is presently 33.76%.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president now directly owns 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

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.