Bokf Na Lowers Stock Position in Ingredion Incorporated (NYSE:INGR)

Bokf Na lessened its holdings in Ingredion Incorporated (NYSE:INGR) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,661 shares of the company’s stock after selling 304 shares during the quarter. Bokf Na’s holdings in Ingredion were worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of 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 in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Ingredion by 6.3% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock worth $255,000 after acquiring an additional 130 shares in the last quarter. STAR Financial Bank boosted its stake in shares of Ingredion by 3.8% during the 4th quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock worth $389,000 after acquiring an additional 132 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Ingredion by 10.4% during the 2nd quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock worth $170,000 after acquiring an additional 140 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Ingredion by 0.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,806 shares of the company’s stock worth $2,081,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The disclosure for this sale can be found here. Insiders sold a total of 26,045 shares of company stock worth $3,482,491 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on INGR shares. UBS Group boosted their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Oppenheimer upped their target price on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets upped their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $122.00 to $145.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.33.

Ingredion Trading Down 0.2 %

Shares of INGR opened at $134.60 on Friday. The stock has a fifty day moving average of $126.58 and a two-hundred day moving average of $119.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The company has a market capitalization of $8.76 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21.

Ingredion (NYSE:INGR) last released 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 business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 EPS. As a group, analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 31.26%.

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.