4,600 Shares in Ingredion Incorporated (NYSE:INGR) Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. bought a new position in Ingredion Incorporated (NYSE:INGR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,600 shares of the company’s stock, valued at approximately $528,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ingredion in the second quarter valued at approximately $26,000. Jones Financial Companies Lllp bought a new stake in shares of Ingredion in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of 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 period. Family Firm Inc. bought a new stake in shares of Ingredion in the second quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ingredion in the second quarter valued at approximately $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 52,530 shares in the company, 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 owned by corporate insiders.

Ingredion Stock Performance

Ingredion stock opened at $134.98 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The stock has a fifty day moving average price of $128.74 and a two-hundred 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 firm has a market capitalization of $8.86 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company posted $2.32 earnings per share. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. 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 of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio is currently 32.06%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets raised their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. UBS Group raised their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Oppenheimer raised 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. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and a consensus price target of $137.33.

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.