Ingredion Incorporated (NYSE:INGR) Short Interest Update

Ingredion Incorporated (NYSE:INGR) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 884,100 shares, a decline of 6.9% from the August 31st total of 949,700 shares. Based on an average daily volume of 364,100 shares, the short-interest ratio is presently 2.4 days. Currently, 1.4% of the company’s shares are short sold.

Insider Transactions at Ingredion

In related news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion 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 transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction 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 transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of Ingredion 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 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 90 days, insiders have sold 26,045 shares of company stock worth $3,482,491. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

Large investors have recently modified their holdings of the company. Conscious Wealth Investments LLC boosted its stake in Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after buying an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares in the last quarter. Delphi Management Inc. MA boosted its stake in Ingredion by 0.8% in the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after buying an additional 123 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in 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 in the last quarter. Finally, STAR Financial Bank boosted its stake in Ingredion by 3.8% in the fourth quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock worth $389,000 after buying an additional 132 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Price Performance

NYSE INGR traded down $0.51 during trading on Tuesday, reaching $136.92. The company’s stock had a trading volume of 19,260 shares, compared to its average volume of 380,015. The firm has a fifty day moving average of $130.92 and a 200 day moving average of $120.99. Ingredion has a one year low of $89.54 and a one year high of $138.37. The stock has a market capitalization of $8.99 billion, a PE ratio of 13.77, a P/E/G 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 (NYSE:INGR) last announced its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share 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 the consensus estimate of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the firm posted $2.32 earnings per share. Analysts expect that Ingredion 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. Stockholders of record on Tuesday, October 1st will be issued a $0.80 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 32.06%.

Wall Street Analyst Weigh In

Several research firms have weighed in on INGR. BMO Capital Markets lifted their price target 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. UBS Group boosted their target price 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. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Oppenheimer lifted their target price on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $122.00 to $145.00 in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.33.

Ingredion Company 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.