SG Americas Securities LLC Acquires 2,629 Shares of Ingredion Incorporated (NYSE:INGR)

SG Americas Securities LLC increased its holdings in Ingredion Incorporated (NYSE:INGR) by 222.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,810 shares of the company’s stock after purchasing an additional 2,629 shares during the period. SG Americas Securities LLC’s holdings in Ingredion were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INGR. Insight Wealth Strategies LLC lifted its stake in shares of Ingredion by 230.9% in the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after buying an additional 9,577 shares during the last quarter. Janus Henderson Group PLC lifted its position in Ingredion by 154.0% during the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after acquiring an additional 47,225 shares during the last quarter. Sei Investments Co. grew its position in shares of Ingredion by 23.4% in the first quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after purchasing an additional 21,619 shares during the last quarter. BNP Paribas bought a new position in shares of Ingredion in the first quarter worth about $1,154,000. Finally, Empowered Funds LLC acquired a new position in shares of Ingredion during the 1st quarter worth about $1,812,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Performance

NYSE:INGR opened at $135.07 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $133.69 and a 200 day moving average price of $122.37. The firm has a market capitalization of $8.87 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $138.37.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping 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 business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company earned $2.32 EPS. Ingredion’s revenue was down 9.2% on a year-over-year basis. Research analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced 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 positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. Ingredion’s dividend payout ratio is presently 32.06%.

Insider Activity at Ingredion

In other news, SVP Robert A. Ritchie sold 1,195 shares of the business’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 $1,988,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the 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 sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,551 shares of company stock valued at $3,550,084 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. Oppenheimer upped their target price 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. UBS Group increased their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets increased their target price 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.