Wright Investors Service Inc. Invests $415,000 in Ingredion Incorporated (NYSE:INGR)

Wright Investors Service Inc. acquired a new stake in shares of Ingredion Incorporated (NYSE:INGR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,021 shares of the company’s stock, valued at approximately $415,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion during the second quarter valued at $26,000. Jones Financial Companies Lllp acquired a new stake in shares of Ingredion in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion during the second quarter valued at approximately $33,000. Finally, Family Firm Inc. bought a new stake in Ingredion during the second quarter worth approximately $36,000. 85.27% of the stock is currently owned by institutional investors.

Ingredion Trading Up 0.7 %

NYSE INGR traded up $0.90 on Friday, hitting $135.10. 202,700 shares of the stock were exchanged, compared to its average volume of 379,852. The company’s 50-day moving average price is $132.20 and its two-hundred day moving average price is $121.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. 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 $8.87 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.23 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $2.32 earnings per share. Ingredion’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts predict that Ingredion Incorporated will post 9.95 EPS for the current 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 $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio is currently 32.06%.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of research reports. Oppenheimer increased their price target on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets raised their price objective on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays upgraded 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 report on Friday, August 9th. Finally, UBS Group upped their price target on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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 22,550 shares of Ingredion stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. This represents a 0.00 % decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred 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 $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,046 shares of company stock worth $3,482,626 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

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.