City Center Advisors LLC Takes Position in Ingredion Incorporated (NYSE:INGR)

City Center Advisors LLC purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,599 shares of the company’s stock, valued at approximately $220,000.

A number of other large investors also recently modified their holdings of INGR. Conscious Wealth Investments LLC grew its holdings in Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after acquiring an additional 106 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Delphi Management Inc. MA grew its holdings in Ingredion by 0.8% during the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares during the period. Signaturefd LLC grew its holdings in Ingredion by 10.4% during the second quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock worth $170,000 after acquiring an additional 140 shares during the period. Finally, Foundations Investment Advisors LLC grew its holdings in Ingredion by 8.1% during the second quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock worth $242,000 after acquiring an additional 158 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ingredion

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 stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. In other Ingredion 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 value of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,046 shares of company stock valued at $3,482,626. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ingredion Stock Down 0.3 %

INGR opened at $134.04 on Wednesday. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37. The business has a 50-day moving average of $132.67 and a 200-day moving average of $121.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The company has a market capitalization of $8.80 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.23 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its quarterly earnings data 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. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business earned $2.32 EPS. The firm’s revenue was down 9.2% compared to the same quarter last year. Equities research analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

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.