Ingredion Incorporated (NYSE:INGR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in Ingredion Incorporated (NYSE:INGR) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,546 shares of the company’s stock after selling 14,719 shares during the period. Envestnet Asset Management Inc. owned approximately 0.32% of Ingredion worth $24,150,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of INGR. Insight Wealth Strategies LLC grew its position in Ingredion by 230.9% in the 1st quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock valued at $1,604,000 after buying an additional 9,577 shares in the last quarter. Janus Henderson Group PLC grew its position in Ingredion by 154.0% in the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after buying an additional 47,225 shares in the last quarter. Sei Investments Co. grew its position in Ingredion by 23.4% in the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after buying an additional 21,619 shares in the last quarter. BNP Paribas bought a new position in Ingredion in the 1st quarter valued at about $1,154,000. Finally, Empowered Funds LLC bought a new position in Ingredion in the 1st quarter valued at about $1,812,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Performance

Ingredion stock opened at $134.98 on Monday. The firm’s 50 day simple moving average is $128.74 and its 200-day simple moving average is $120.17. The company has a market cap of $8.86 billion, a P/E 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 current ratio of 2.52 and a quick ratio of 1.51. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21.

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

Ingredion Increases Dividend

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

Analysts Set New Price Targets

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

Insider Transactions at Ingredion

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