Ingredion Incorporated (NYSE:INGR) Stock Holdings Increased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 19.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,726 shares of the company’s stock after purchasing an additional 3,373 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ingredion were worth $2,377,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in INGR. EverSource Wealth Advisors LLC raised its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Ingredion by 6.3% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock worth $255,000 after buying an additional 130 shares during the last quarter. STAR Financial Bank boosted its holdings in shares of Ingredion by 3.8% during the 4th quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock worth $389,000 after buying an additional 132 shares during the period. Signaturefd LLC grew its stake in Ingredion by 10.4% in the 2nd quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock valued at $170,000 after buying an additional 140 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in Ingredion by 8.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock worth $242,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

INGR has been the topic of several research analyst reports. BMO Capital Markets raised their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer upped their price objective on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $122.00 to $145.00 in a report on Friday, August 9th. Finally, UBS Group lifted their price objective on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average price target of $137.33.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 22,550 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. The disclosure for this sale can be found here. Insiders have sold 26,045 shares of company stock valued at $3,482,491 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Ingredion Trading Up 0.1 %

NYSE:INGR opened at $134.70 on Tuesday. The business’s 50-day simple moving average is $127.02 and its 200-day simple moving average is $119.65. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The stock has a market capitalization of $8.76 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the business posted $2.32 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. Sell-side analysts expect that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.38%. Ingredion’s dividend payout ratio is 31.26%.

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.