Exchange Traded Concepts LLC Lowers Position in Ingredion Incorporated (NYSE:INGR)

Exchange Traded Concepts LLC cut its holdings in Ingredion Incorporated (NYSE:INGR) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,395 shares of the company’s stock after selling 253 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ingredion were worth $741,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Conscious Wealth Investments LLC raised its holdings 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 purchasing an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 118 shares in the last quarter. Delphi Management Inc. MA raised its holdings 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 purchasing an additional 123 shares in the last quarter. Signaturefd LLC raised its holdings in Ingredion by 10.4% in the second quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock worth $170,000 after purchasing an additional 140 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in Ingredion by 8.1% in the second quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock worth $242,000 after purchasing an additional 158 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Down 0.4 %

Shares of NYSE:INGR opened at $134.26 on Friday. The business has a 50-day moving average price of $134.12 and a 200 day moving average price of $122.66. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $138.37. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.22 and a beta of 0.72. 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 (NYSE:INGR) last announced its 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 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 business posted $2.32 EPS. Ingredion’s revenue for the quarter was down 9.2% on a year-over-year basis. Sell-side analysts expect that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors 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 yield of 2.38%. This is a boost 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 32.06%.

Insider Activity at Ingredion

In related news, SVP Robert A. Ritchie sold 1,195 shares of the firm’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 in the company, valued at $1,988,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the transaction, the senior vice president now owns 15,906 shares in the company, valued at approximately $1,988,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 22,550 shares of Ingredion 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 transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,551 shares of company stock worth $3,550,084 in the last three months. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

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