Alps Advisors Inc. Takes $540,000 Position in Ingredion Incorporated (INGR)

Alps Advisors Inc. bought a new stake in Ingredion Incorporated (NYSE:INGR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,478 shares of the company’s stock, valued at approximately $540,000.

Other hedge funds also recently made changes to their positions in the company. BB&T Corp grew its stake in shares of Ingredion by 9.2% in the 3rd quarter. BB&T Corp now owns 45,396 shares of the company’s stock valued at $5,476,000 after purchasing an additional 3,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Ingredion by 2.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,175 shares of the company’s stock valued at $25,174,000 after purchasing an additional 5,707 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Ingredion by 6.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 149,884 shares of the company’s stock valued at $17,868,000 after purchasing an additional 8,720 shares during the last quarter. Tobam acquired a new stake in shares of Ingredion in the 2nd quarter valued at approximately $938,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Ingredion by 39.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 414,111 shares of the company’s stock valued at $49,367,000 after buying an additional 117,591 shares during the period. Institutional investors own 84.59% of the company’s stock.

Shares of Ingredion Incorporated (NYSE INGR) opened at $133.21 on Thursday. The company has a quick ratio of 1.53, a current ratio of 2.41 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $9,387.72, a P/E ratio of 17.08, a PEG ratio of 1.54 and a beta of 0.68. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $134.03.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.04 by $0.17. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. sell-side analysts anticipate that Ingredion Incorporated will post 7.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, October 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Friday, September 29th. This is a boost from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 1.80%. Ingredion’s payout ratio is currently 34.38%.

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INGR has been the subject of several recent analyst reports. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a report on Friday, August 4th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $125.00 price target on shares of Ingredion in a report on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $140.00.

In related news, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the transaction, the vice president now directly owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction on Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the transaction, the vice president now directly owns 29,429 shares of the company’s stock, valued at $3,690,102.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,882 shares of company stock valued at $6,622,034. 1.92% of the stock is currently owned by insiders.

Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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