Northwestern Mutual Wealth Management Co. Reduces Stock Position in Ingredion Incorporated (NYSE:INGR)

Northwestern Mutual Wealth Management Co. trimmed its position in Ingredion Incorporated (NYSE:INGR) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,344 shares of the company’s stock after selling 328 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Ingredion were worth $498,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ingredion in the second quarter valued at $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Ingredion by 102.6% during the 1st 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ingredion during the 2nd quarter worth about $33,000. Family Firm Inc. acquired a new stake in shares of Ingredion in the second quarter worth approximately $36,000. Finally, International Assets Investment Management LLC purchased a new stake in Ingredion in the second quarter valued at approximately $36,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ingredion

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were 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 owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 22,550 shares of the 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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,046 shares of company stock valued at $3,482,626. Insiders own 1.80% of the company’s stock.

Ingredion Stock Down 0.3 %

Shares of NYSE:INGR opened at $134.04 on Wednesday. The company has a 50 day moving average of $132.67 and a two-hundred day moving average of $121.78. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $138.37. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.23 and a beta of 0.72.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $2.32 earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, analysts forecast that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.39%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio is currently 32.06%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INGR shares. BMO Capital Markets lifted their price target on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. UBS Group boosted their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Oppenheimer boosted their price objective on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note 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’s stock. According to MarketBeat, Ingredion presently has an average 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.