Goelzer Investment Management Inc. Has $5.12 Million Stock Position in Ingredion Incorporated (NYSE:INGR)

Goelzer Investment Management Inc. lessened its position in Ingredion Incorporated (NYSE:INGRFree Report) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 47,177 shares of the company’s stock after selling 735 shares during the period. Goelzer Investment Management Inc.’s holdings in Ingredion were worth $5,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC increased its position in Ingredion by 63.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after acquiring an additional 147 shares during the period. Allworth Financial LP increased its holdings in shares of Ingredion by 414.1% during the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after purchasing an additional 323 shares during the period. Blue Trust Inc. increased its holdings in shares of Ingredion by 40.2% during the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares during the period. National Bank of Canada FI lifted its stake in shares of Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after buying an additional 159 shares during the period. Finally, Planned Solutions Inc. bought a new stake in shares of Ingredion in the fourth quarter valued at about $96,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

INGR has been the subject of a number of research reports. The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. Stephens reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Barclays raised their price objective 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. Finally, BMO Capital Markets upped their target price on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

Get Our Latest Stock Report on INGR

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value 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 $3,333,407.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 54,581 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were 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 owns 99,246 shares in the company, valued at $11,635,601.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,779 shares of company stock valued at $8,218,681. Insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR traded down $0.47 during trading on Wednesday, reaching $117.66. The stock had a trading volume of 424,268 shares, compared to its average volume of 389,891. The stock has a market capitalization of $7.72 billion, a PE ratio of 11.79, a P/E/G ratio of 1.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $122.18. The business’s 50-day moving average price is $115.52 and its 200 day moving average price is $110.33.

Ingredion (NYSE:INGRGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, hitting analysts’ consensus estimates of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The business’s revenue was down 11.9% on a year-over-year basis. As a group, equities analysts predict that Ingredion Incorporated will post 9.67 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.65%. The ex-dividend date was Thursday, March 28th. Ingredion’s payout ratio is presently 31.26%.

About Ingredion

(Free Report)

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.

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Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Incorporated (NYSE:INGRFree Report).

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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