Ingredion Incorporated (NYSE:INGR) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,194 shares of the company’s stock after buying an additional 23,396 shares during the period. Raymond James & Associates owned about 0.35% of Ingredion worth $31,636,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INGR. Blue Trust Inc. increased its stake in Ingredion by 126.1% during the 3rd quarter. Blue Trust Inc. now owns 1,343 shares of the company’s stock worth $185,000 after buying an additional 749 shares during the period. Net Worth Advisory Group purchased a new stake in shares of Ingredion during the third quarter worth about $614,000. ZWJ Investment Counsel Inc. increased its position in shares of Ingredion by 0.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 368,095 shares of the company’s stock worth $50,587,000 after acquiring an additional 2,057 shares during the last quarter. Creative Planning boosted its holdings in Ingredion by 5.5% in the third quarter. Creative Planning now owns 11,203 shares of the company’s stock valued at $1,540,000 after purchasing an additional 584 shares during the last quarter. Finally, CX Institutional acquired a new stake in Ingredion during the 3rd quarter valued at approximately $5,277,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Up 1.2 %

Shares of NYSE:INGR opened at $135.96 on Thursday. The company has a 50 day moving average of $134.43 and a 200-day moving average of $123.13. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.93 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.22 and a beta of 0.72. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $138.37.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping 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 firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm posted $2.32 earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, 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 was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.35%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is currently 32.06%.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 1,000 shares of the firm’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 approximately $7,040,070.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction 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 owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction 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 sale, 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. Over the last three months, insiders have sold 26,551 shares of company stock worth $3,550,084. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INGR has been the topic of a number of recent analyst reports. Oppenheimer upped their target price on Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday. BMO Capital Markets increased their price objective 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. Barclays raised 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 research report on Friday, August 9th. 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 research report on Thursday, August 15th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.83.

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.