Ingredion Incorporated (NYSE:INGR) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,484 shares of the company’s stock after purchasing an additional 1,334 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Ingredion were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Conscious Wealth Investments LLC raised its position in shares of Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after buying an additional 106 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Ingredion in the 2nd quarter valued at $241,000. Renaissance Technologies LLC raised its holdings in Ingredion by 154.0% in the 2nd quarter. Renaissance Technologies LLC now owns 41,405 shares of the company’s stock valued at $4,749,000 after acquiring an additional 25,105 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ingredion by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after purchasing an additional 125,543 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Ingredion by 47.2% in the second quarter. Parallel Advisors LLC now owns 6,539 shares of the company’s stock valued at $750,000 after purchasing an additional 2,098 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on INGR shares. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays raised shares of 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. UBS Group upped their price target on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Oppenheimer lifted their price target on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets upped their price objective on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average target price of $137.33.

Ingredion Price Performance

Ingredion stock opened at $135.04 on Tuesday. The firm has a fifty day moving average of $129.16 and a 200-day moving average of $120.30. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. 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 PEG ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.34. The company 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 company’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 earnings per share. As a group, analysts predict that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.80 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Tuesday, October 1st. Ingredion’s payout ratio is presently 32.06%.

Insider Activity at Ingredion

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the transaction, the senior vice president now owns 15,906 shares in the company, valued at approximately $1,988,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. The disclosure for this sale can be found here. In the last three months, insiders sold 26,045 shares of company stock valued at $3,482,491. Corporate insiders own 1.80% of the company’s stock.

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.