Amalgamated Bank Decreases Stake in Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank cut its holdings in Ingredion Incorporated (NYSE:INGR) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,168 shares of the company’s stock after selling 1,130 shares during the quarter. Amalgamated Bank owned 0.06% of Ingredion worth $4,722,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Ingredion during the second quarter worth $26,000. Jones Financial Companies Lllp purchased a new stake in Ingredion during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares in the last quarter. Family Firm Inc. purchased a new stake in Ingredion during the second quarter worth $36,000. Finally, International Assets Investment Management LLC purchased a new stake in Ingredion during the second quarter worth $36,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ingredion

In related 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 value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,045 shares of company stock worth $3,482,491. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Performance

Ingredion stock opened at $134.98 on Friday. The firm has a market capitalization of $8.86 billion, a P/E ratio of 13.53, a PEG ratio of 1.23 and a beta of 0.73. The stock has a fifty day moving average price of $128.74 and a 200 day moving average price of $120.14. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $137.21. 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 released its earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.53 by $0.34. The firm had revenue of $1.88 billion during 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 business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.32 earnings per share. Equities research analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.37%. The ex-dividend date is Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 32.06%.

Analyst Ratings Changes

A number of research firms have commented on INGR. Oppenheimer boosted their target price on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets boosted their price target on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. UBS Group boosted their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $122.00 to $145.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average target price of $137.33.

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.