Insight Wealth Strategies LLC Purchases 9,577 Shares of Ingredion Incorporated (NYSE:INGR)

Insight Wealth Strategies LLC increased its position in Ingredion Incorporated (NYSE:INGR) by 230.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,725 shares of the company’s stock after acquiring an additional 9,577 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Ingredion were worth $1,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INGR. Jones Financial Companies Lllp bought a new stake in Ingredion during the 4th quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC boosted its stake in Ingredion by 63.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after buying an additional 147 shares during the period. Blue Trust Inc. grew its position in 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. National Bank of Canada FI increased its stake in Ingredion by 59.8% in the 4th quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after acquiring an additional 159 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Ingredion by 54.0% during the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock worth $72,000 after purchasing an additional 234 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Trading Up 0.4 %

NYSE:INGR opened at $115.75 on Thursday. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.08 and a beta of 0.74. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $115.74 and its 200-day moving average price is $113.08. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $122.18.

Ingredion (NYSE:INGR) last issued its earnings results on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, meeting the consensus estimate of $2.08. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.80 EPS. On average, equities research analysts forecast that Ingredion Incorporated will post 9.76 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 1st will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $3.12 annualized dividend and a yield of 2.70%. Ingredion’s payout ratio is 31.26%.

Insider Buying and Selling at Ingredion

In other news, CFO James D. Gray sold 8,490 shares of Ingredion stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the sale, the chief financial officer now directly owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the transaction, the senior vice president now owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the transaction, the chief financial officer now directly owns 42,833 shares in the company, valued at $5,214,489.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,360 shares of company stock worth $4,515,761. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 13th. Finally, Barclays raised their price target on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Two investment 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.17.

Ingredion Company Profile

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.