Check Capital Management Inc. CA Has $39 Million Holdings in Ingredion Inc (INGR)

Check Capital Management Inc. CA trimmed its stake in Ingredion Inc (NYSE:INGR) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 426,695 shares of the company’s stock after selling 518 shares during the quarter. Ingredion makes up about 2.1% of Check Capital Management Inc. CA’s portfolio, making the stock its 12th biggest holding. Check Capital Management Inc. CA’s holdings in Ingredion were worth $39,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. First Hawaiian Bank bought a new position in shares of Ingredion during the 3rd quarter worth approximately $368,000. Seven Eight Capital LP bought a new position in shares of Ingredion during the 3rd quarter worth approximately $1,401,000. IFM Investors Pty Ltd boosted its stake in shares of Ingredion by 63.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 3,232 shares of the company’s stock worth $339,000 after acquiring an additional 1,252 shares during the period. Donald L. Hagan LLC bought a new position in shares of Ingredion during the 3rd quarter worth approximately $1,149,000. Finally, Grace & White Inc. NY boosted its stake in shares of Ingredion by 28.4% during the 3rd quarter. Grace & White Inc. NY now owns 75,240 shares of the company’s stock worth $7,897,000 after acquiring an additional 16,645 shares during the period. Hedge funds and other institutional investors own 92.39% of the company’s stock.

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Several brokerages have recently commented on INGR. Jefferies Financial Group lifted their target price on Ingredion to $145.00 and gave the stock a “buy” rating in a research note on Monday, November 19th. Citigroup upgraded Ingredion from a “sell” rating to a “neutral” rating in a research note on Thursday, November 1st. Zacks Investment Research cut Ingredion from a “hold” rating to a “sell” rating in a report on Tuesday, October 30th. Vertical Group cut Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Finally, ValuEngine cut Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $117.80.

NYSE:INGR opened at $93.77 on Tuesday. The company has a market cap of $6.63 billion, a P/E ratio of 13.55, a PEG ratio of 1.18 and a beta of 0.73. The company has a quick ratio of 1.39, a current ratio of 2.26 and a debt-to-equity ratio of 0.80. Ingredion Inc has a 1-year low of $87.02 and a 1-year high of $135.40.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 5th. The company reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. Ingredion had a return on equity of 17.77% and a net margin of 7.31%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. As a group, equities research analysts forecast that Ingredion Inc will post 7.17 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Wednesday, January 2nd were issued a dividend of $0.625 per share. The ex-dividend date was Monday, December 31st. This represents a $2.50 annualized dividend and a yield of 2.67%. Ingredion’s payout ratio is currently 36.13%.

In related news, VP Christine M. Castellano sold 13,261 shares of Ingredion stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $105.19, for a total transaction of $1,394,924.59. Following the completion of the sale, the vice president now directly owns 30,130 shares of the company’s stock, valued at approximately $3,169,374.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

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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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