Ingredion Incorporated (NYSE:INGR) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its position in Ingredion Incorporated (NYSE:INGR) by 92.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,764,012 shares of the company’s stock after buying an additional 846,967 shares during the quarter. Pacer Advisors Inc. owned about 2.69% of Ingredion worth $202,332,000 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 added to or reduced their stakes in the company. Conscious Wealth Investments LLC lifted its position in Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after buying an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in Ingredion by 6.3% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock valued at $255,000 after purchasing an additional 130 shares in the last quarter. STAR Financial Bank raised its position in Ingredion by 3.8% in the fourth quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock valued at $389,000 after purchasing an additional 132 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Ingredion by 10.4% during the second quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock worth $170,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,045 shares of company stock valued at $3,482,491. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ingredion Trading Down 0.9 %

INGR opened at $134.92 on Friday. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month 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 $8.86 billion, a PE ratio of 13.52, a P/E/G ratio of 1.23 and a beta of 0.73. The firm’s fifty day moving average price is $128.74 and its 200 day moving average price is $120.12.

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

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s payout ratio is 32.06%.

Ingredion 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.