Point72 Asia Singapore Pte. Ltd. Makes New $33,000 Investment in Ingredion Incorporated (NYSE:INGR)

Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion Incorporated (NYSE:INGR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 286 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Conscious Wealth Investments LLC boosted its stake in shares of Ingredion by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after buying an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Ingredion by 10.4% in the 2nd quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock worth $170,000 after buying an additional 140 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Ingredion by 8.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock worth $242,000 after buying an additional 158 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Ingredion by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 4,628 shares of the company’s stock worth $541,000 after buying an additional 177 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of Ingredion stock opened at $136.03 on Wednesday. The stock’s 50-day simple moving average is $130.92 and its 200-day simple moving average is $120.99. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $138.37. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.23 and a beta of 0.73. 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 (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating 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 business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $2.32 earnings per share. The business’s revenue was down 9.2% on a year-over-year basis. As a group, analysts expect that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.35%. This is an increase 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%.

Insider Transactions at Ingredion

In other 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 sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated 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 $7,040,595.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,046 shares of company stock valued at $3,482,626. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

INGR has been the topic of a number of research reports. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $122.00 to $145.00 in a research report on Friday, August 9th. UBS Group lifted their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. BMO Capital Markets lifted their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer lifted their target price on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus price target of $137.33.

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.