JPMorgan Chase & Co. Has $42.03 Million Stock Position in Ingredion Incorporated (NYSE:INGR)

JPMorgan Chase & Co. grew its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,827 shares of the company’s stock after purchasing an additional 35,657 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Ingredion worth $42,030,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after acquiring an additional 85 shares during the period. Tidal Investments LLC raised its holdings in shares of Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after buying an additional 94 shares in the last quarter. Seelaus Asset Management LLC lifted its position in shares of Ingredion by 3.3% during the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after buying an additional 105 shares during the last quarter. Conscious Wealth Investments LLC grew its position in Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after acquiring an additional 106 shares during the last quarter. Finally, Delphi Management Inc. MA raised its stake in Ingredion by 0.8% during the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Oppenheimer increased their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group upped their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays lifted their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Stephens upgraded Ingredion to a “hold” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,197 shares of company stock valued at $9,702,325 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Performance

Shares of INGR opened at $136.53 on Monday. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $142.92 and its two-hundred day simple moving average is $132.96. Ingredion Incorporated has a 12 month low of $106.03 and a 12 month high of $155.44. The stock has a market capitalization of $8.90 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.24 and a beta of 0.75.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. As a group, analysts predict that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

Ingredion 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.