Private Advisor Group LLC Sells 357 Shares of Ingredion Incorporated (NYSE:INGR)

Private Advisor Group LLC trimmed its position in Ingredion Incorporated (NYSE:INGR) by 11.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,759 shares of the company’s stock after selling 357 shares during the quarter. Private Advisor Group LLC’s holdings in Ingredion were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion during the second quarter worth about $33,000. Family Firm Inc. bought 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 in the 2nd quarter valued at approximately $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Up 15.5 %

Shares of INGR opened at $154.78 on Wednesday. The stock’s 50-day moving average price is $135.21 and its two-hundred day moving average price is $124.75. Ingredion Incorporated has a 12 month low of $95.07 and a 12 month high of $154.87. The company has a market capitalization of $10.07 billion, a PE ratio of 15.83, a PEG ratio of 1.21 and a beta of 0.73. 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.32 earnings per share. On average, analysts anticipate that Ingredion Incorporated will post 10.05 EPS for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.07%. Ingredion’s dividend payout ratio is 32.72%.

Wall Street Analyst Weigh In

INGR has been the subject of several research reports. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a research note on Friday, August 9th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Oppenheimer upped their target price on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. UBS Group lifted their price target on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets upped their price objective on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.83.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,356 shares of company stock valued at $3,400,709 over the last quarter. Insiders own 1.80% of the company’s stock.

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.