Ingredion Incorporated (NYSE:INGR) Shares Acquired by Creative Planning

Creative Planning lifted its holdings in Ingredion Incorporated (NYSE:INGR) by 5.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,203 shares of the company’s stock after purchasing an additional 584 shares during the quarter. Creative Planning’s holdings in Ingredion were worth $1,540,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ingredion during the second quarter worth $26,000. EverSource Wealth Advisors LLC lifted its position in Ingredion by 102.6% during the 1st 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. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion in the second quarter valued at about $33,000. Family Firm Inc. purchased a new position in shares of Ingredion in the second quarter worth about $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ingredion during the second quarter worth about $36,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,356 shares of company stock valued at $3,400,709 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. UBS Group raised their target price 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 upped their price target on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Oppenheimer increased their price target on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Barclays raised 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.83.

Ingredion Price Performance

Shares of Ingredion stock opened at $133.39 on Wednesday. The firm has a market cap of $8.76 billion, a PE ratio of 13.37, a P/E/G ratio of 1.22 and a beta of 0.72. Ingredion Incorporated has a twelve month low of $91.60 and a twelve month high of $138.37. 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 business has a 50-day moving average price of $134.65 and a 200 day moving average price of $123.67.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.53 by $0.34. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. Ingredion’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period last year, the company earned $2.32 earnings per share. Sell-side analysts predict that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.40%. Ingredion’s dividend payout ratio is currently 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.