Watershed Asset Management L.L.C. Sells 310 Shares of Ingredion Incorporated (NYSE:INGR)

Watershed Asset Management L.L.C. reduced its holdings in Ingredion Incorporated (NYSE:INGR) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464 shares of the company’s stock after selling 310 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Ingredion were worth $267,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after buying an additional 103 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of 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 buying an additional 147 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Ingredion by 414.1% during the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after buying an additional 323 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Ingredion by 33.7% during the third quarter. IFP Advisors Inc now owns 484 shares of the company’s stock worth $48,000 after buying an additional 122 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Ingredion by 29.1% during the third quarter. Geneos Wealth Management Inc. now owns 493 shares of the company’s stock worth $49,000 after buying an additional 111 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Ingredion

In other news, 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 value of $6,399,076.44. Following the transaction, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ingredion news, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction dated 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 approximately $11,635,601.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $115.08, for a total value of $272,624.52. Following 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 58,921 shares of company stock valued at $6,903,045 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR traded up $0.04 during mid-day trading on Tuesday, hitting $114.35. 180,054 shares of the stock were exchanged, compared to its average volume of 396,199. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. The firm’s 50-day simple moving average is $115.16 and its 200 day simple moving average is $107.75. 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 fifty-two week low of $89.54 and a fifty-two week high of $118.83.

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

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.73%. Ingredion’s dividend payout ratio is presently 32.50%.

About Ingredion

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.