Prio Wealth Limited Partnership Trims Holdings in Ingredion Inc (INGR)

Prio Wealth Limited Partnership trimmed its position in shares of Ingredion Inc (NYSE:INGR) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,000 shares of the company’s stock after selling 200 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Ingredion were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Prime Capital Investment Advisors LLC bought a new position in shares of Ingredion in the first quarter worth $28,000. Capital Investment Advisory Services LLC bought a new stake in Ingredion during the fourth quarter valued at $30,000. Lavaca Capital LLC purchased a new stake in Ingredion during the fourth quarter valued at about $48,000. Oregon Public Employees Retirement Fund raised its position in Ingredion by 10,975.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock valued at $50,000 after purchasing an additional 4,498,125 shares in the last quarter. Finally, Private Capital Group LLC raised its position in Ingredion by 114.1% during the first quarter. Private Capital Group LLC now owns 546 shares of the company’s stock valued at $52,000 after purchasing an additional 291 shares in the last quarter. 89.00% of the stock is owned by institutional investors and hedge funds.

INGR has been the topic of a number of research reports. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine downgraded Ingredion from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Vertical Group downgraded Ingredion from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. TheStreet downgraded Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday. Finally, Seaport Global Securities began coverage on Ingredion in a report on Thursday, February 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $118.50.

INGR traded down $0.35 during mid-day trading on Friday, reaching $84.20. 937 shares of the company traded hands, compared to its average volume of 532,577. The firm has a market cap of $5.78 billion, a PE ratio of 12.17, a P/E/G ratio of 1.12 and a beta of 0.67. The company has a current ratio of 2.41, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. Ingredion Inc has a 52-week low of $82.32 and a 52-week high of $116.39.

Ingredion (NYSE:INGR) last announced its earnings results on Thursday, May 2nd. The company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.12). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a net margin of 6.70% and a return on equity of 17.18%. Ingredion’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 earnings per share. As a group, research analysts forecast that Ingredion Inc will post 7.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 1st were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $2.50 annualized dividend and a dividend yield of 2.97%. Ingredion’s dividend payout ratio (DPR) is 36.13%.

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About Ingredion

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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