GSA Capital Partners LLP Reduces Position in Ingredion Incorporated (NYSE:INGR)

GSA Capital Partners LLP lowered its stake in Ingredion Incorporated (NYSE:INGR) by 56.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,564 shares of the company’s stock after selling 2,026 shares during the period. GSA Capital Partners LLP’s holdings in Ingredion were worth $215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INGR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion in the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion during the 2nd quarter worth approximately $33,000. Family Firm Inc. acquired a new stake in Ingredion during the 2nd quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ingredion in the 2nd quarter valued at $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Up 1.5 %

Shares of INGR opened at $146.47 on Monday. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.54 billion, a P/E ratio of 14.29, a PEG ratio of 1.24 and a beta of 0.73. The stock’s 50 day moving average is $138.33 and its two-hundred day moving average is $127.58. Ingredion Incorporated has a 12 month low of $100.90 and a 12 month high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. Analysts predict that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.18%. Ingredion’s payout ratio is currently 31.22%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on INGR shares. Oppenheimer raised their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets raised their target price on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Barclays upped their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, UBS Group lifted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,178 shares of company stock valued at $4,848,837. 1.80% of the stock is owned by 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.