Ingredion Incorporated (NYSE:INGR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,587 shares of the company’s stock after selling 1,262 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Ingredion worth $4,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Insight Wealth Strategies LLC raised its holdings in shares of Ingredion by 230.9% during the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock valued at $1,604,000 after acquiring an additional 9,577 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Ingredion by 154.0% in the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after acquiring an additional 47,225 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Ingredion by 23.4% in the first quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after purchasing an additional 21,619 shares during the last quarter. BNP Paribas purchased a new position in Ingredion during the first quarter worth approximately $1,154,000. Finally, Empowered Funds LLC acquired a new position in Ingredion during the first quarter worth $1,812,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR opened at $134.98 on Friday. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21. 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 50 day moving average price of $128.74 and a 200 day moving average price of $120.14. The stock 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.

Ingredion (NYSE:INGR) last issued its quarterly earnings results 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 net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company earned $2.32 earnings per share. The business’s quarterly revenue was down 9.2% on a year-over-year basis. Equities research analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The business 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 dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.37%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. Ingredion’s payout ratio is presently 32.06%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. The disclosure for this sale can be found here. Insiders have sold a total of 26,045 shares of company stock worth $3,482,491 in the last quarter. 1.80% of the stock is owned by company insiders.

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.