FCF Advisors LLC Sells 1,689 Shares of Ingredion Incorporated (NYSE:INGR)

FCF Advisors LLC cut its stake in Ingredion Incorporated (NYSE:INGR) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,506 shares of the company’s stock after selling 1,689 shares during the period. FCF Advisors LLC’s holdings in Ingredion were worth $2,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its stake in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ingredion during the 2nd quarter worth $33,000. Family Firm Inc. acquired a new stake in Ingredion during the 2nd quarter worth $36,000. Finally, International Assets Investment Management LLC acquired a new stake in Ingredion during the 2nd quarter worth $36,000. 85.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 approximately $7,040,070.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,070.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,046 shares of company stock worth $3,482,626 over the last quarter. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR traded down $0.51 during mid-day trading on Tuesday, hitting $133.98. 47,076 shares of the company’s stock traded hands, compared to its average volume of 377,800. The firm has a 50 day moving average of $132.46 and a two-hundred day moving average of $121.66. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $138.37. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 6th. The company reported $2.87 EPS 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 company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $2.32 EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities analysts forecast that Ingredion Incorporated will post 9.95 earnings per share 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 dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.06%.

Wall Street Analysts Forecast Growth

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

About Ingredion

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.