Dana Investment Advisors Inc. Sells 2,689 Shares of Ingredion Incorporated (NYSE:INGR)

Dana Investment Advisors Inc. trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,007 shares of the company’s stock after selling 2,689 shares during the quarter. Dana Investment Advisors Inc. owned 0.10% of Ingredion worth $7,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Jones Financial Companies Lllp bought a new position in shares of Ingredion during the fourth quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ingredion in the 2nd quarter valued at $33,000. Finally, Family Firm Inc. acquired a new stake in shares of Ingredion during the second quarter worth $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Trading Down 0.4 %

Shares of Ingredion stock opened at $136.03 on Wednesday. The stock has a market capitalization of $8.93 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $138.37. The stock has a 50 day moving average price of $130.92 and a two-hundred day moving average price of $120.99. 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 (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business posted $2.32 EPS. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, equities analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is 32.06%.

Analysts Set New Price Targets

INGR has been the topic of a number of research analyst reports. UBS Group upped their price target 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. BMO Capital Markets upped their target price on 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 downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays upgraded 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. Finally, Oppenheimer lifted 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.33.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,046 shares of company stock valued at $3,482,626. 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.