Janney Montgomery Scott LLC Buys 4,123 Shares of Ingredion Incorporated (NYSE:INGR)

Janney Montgomery Scott LLC boosted its stake in Ingredion Incorporated (NYSE:INGR) by 16.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,134 shares of the company’s stock after buying an additional 4,123 shares during the period. Janney Montgomery Scott LLC’s holdings in Ingredion were worth $4,008,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp grew its position in shares of Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after purchasing an additional 19,560 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after buying an additional 36,421 shares in the last quarter. Geode Capital Management LLC increased its position in Ingredion by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock worth $160,516,000 after buying an additional 19,064 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Ingredion by 1.5% during the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock worth $99,683,000 after buying an additional 10,812 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in shares of Ingredion in the fourth quarter valued at about $58,642,000. 85.27% of the stock is owned by institutional investors.

Ingredion Price Performance

Shares of INGR stock opened at $137.42 on Friday. Ingredion Incorporated has a twelve month low of $107.40 and a twelve month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $139.86 and a 200 day simple moving average of $135.52. The company has a market cap of $8.95 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.10 and a beta of 0.75.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company posted $2.33 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 31.22%.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,692 shares of company stock valued at $9,634,868 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.