Hancock Whitney Corp Sells 107 Shares of Ingredion Incorporated (NYSE:INGR)

Hancock Whitney Corp trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,729 shares of the company’s stock after selling 107 shares during the period. Hancock Whitney Corp’s holdings in Ingredion were worth $772,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ingredion during the second quarter valued at approximately $26,000. Jones Financial Companies Lllp bought a new position in shares of Ingredion in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Ingredion in the 2nd quarter worth about $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of NYSE INGR opened at $134.98 on Monday. The stock has a fifty day moving average of $128.74 and a 200-day moving average of $120.17. The stock has a market cap of $8.86 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share 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 analysts’ expectations of $1.98 billion. During the same period in the prior year, the business posted $2.32 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis. Equities research analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction 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 $7,046,374.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The disclosure for this sale can be found here. Insiders sold 26,045 shares of company stock worth $3,482,491 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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.