Aristides Capital LLC Reduces Stake in Ingredion Incorporated (NYSE:INGR)

Aristides Capital LLC lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 5.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,181 shares of the company’s stock after selling 129 shares during the quarter. Aristides Capital LLC’s holdings in Ingredion were worth $250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INGR. Pacer Advisors Inc. boosted its position in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after acquiring an additional 846,967 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ingredion by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock worth $843,617,000 after acquiring an additional 427,496 shares during the last quarter. Acadian Asset Management LLC grew its position in Ingredion by 177.8% in the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after acquiring an additional 253,949 shares in the last quarter. Morningstar Investment Services LLC increased its stake in Ingredion by 98.5% in the fourth quarter. Morningstar Investment Services LLC now owns 393,101 shares of the company’s stock valued at $42,789,000 after acquiring an additional 195,106 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Ingredion by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after purchasing an additional 125,543 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ingredion Trading Up 0.0 %

NYSE:INGR opened at $137.39 on Tuesday. The firm has a market capitalization of $9.02 billion, a P/E ratio of 13.77, a PEG 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 one year low of $89.54 and a one year high of $138.37. The company’s 50-day simple moving average is $130.57 and its 200 day simple moving average is $120.83.

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

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is currently 32.06%.

Insiders Place Their Bets

In related news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,045 shares of company stock valued at $3,482,491. 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.