IVY Lane Capital Management LLC Acquires 22,000 Shares of Ingredion Incorporated (NYSE:INGR)

IVY Lane Capital Management LLC boosted its position in shares of Ingredion Incorporated (NYSE:INGR) by 44.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,000 shares of the company’s stock after purchasing an additional 22,000 shares during the period. Ingredion makes up 5.0% of IVY Lane Capital Management LLC’s holdings, making the stock its 9th biggest holding. IVY Lane Capital Management LLC owned 0.11% of Ingredion worth $7,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of Ingredion by 63.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after acquiring an additional 147 shares during the period. Allworth Financial LP increased its stake in Ingredion by 414.1% during the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after buying an additional 323 shares during the period. Blue Trust Inc. increased its stake in Ingredion by 40.2% during the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after buying an additional 103 shares during the period. IFP Advisors Inc increased its stake 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 buying an additional 122 shares during the period. Finally, Planned Solutions Inc. purchased a new stake in Ingredion during the 4th quarter worth approximately $96,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INGR shares. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Stephens reaffirmed an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research note on Wednesday, February 7th. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and upped their target price for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Finally, Barclays boosted their price target on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.67.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 54,581 shares of the 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 sale, the chief executive officer now owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the sale, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at approximately $11,635,601.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The disclosure for this sale can be found here. Insiders sold a total of 58,921 shares of company stock valued at $6,903,045 over the last three months. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Performance

NYSE:INGR traded down $1.19 during trading hours on Friday, reaching $113.29. 296,644 shares of the company’s stock were exchanged, compared to its average volume of 312,414. The company has a 50-day moving average of $115.22 and a 200 day moving average of $108.06. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.07 and a beta of 0.81. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $118.83.

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

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) 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.