Crossmark Global Holdings Inc. Purchases 7,969 Shares of Ingredion Incorporated (NYSE:INGR)

Crossmark Global Holdings Inc. boosted its position in Ingredion Incorporated (NYSE:INGR) by 143.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,536 shares of the company’s stock after purchasing an additional 7,969 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ingredion were worth $1,862,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INGR. State Street Corp raised its holdings in Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after acquiring an additional 19,560 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after acquiring an additional 36,421 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock valued at $160,516,000 after acquiring an additional 19,064 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Ingredion by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after acquiring an additional 10,812 shares in the last quarter. Finally, Brandes Investment Partners LP raised its holdings in Ingredion by 21.3% in the 2nd quarter. Brandes Investment Partners LP now owns 431,339 shares of the company’s stock valued at $49,477,000 after acquiring an additional 75,754 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,692 shares of company stock valued at $9,634,868 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Shares of INGR opened at $136.79 on Friday. Ingredion Incorporated has a 12-month low of $107.20 and a 12-month high of $155.44. The business has a 50-day simple moving average of $140.51 and a two-hundred day simple moving average of $134.73. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The stock has a market cap of $8.91 billion, a PE ratio of 13.35, a PEG ratio of 1.11 and a beta of 0.75.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.34%. Ingredion’s payout ratio is presently 31.22%.

Analyst Upgrades and Downgrades

INGR has been the subject of several analyst reports. Stephens raised Ingredion to a “hold” rating in a report on Monday, December 2nd. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays boosted their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. BMO Capital Markets boosted their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Finally, Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

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.