Retirement Systems of Alabama Raises Stake in Ingredion Incorporated $INGR

Retirement Systems of Alabama lifted its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 154,103 shares of the company’s stock after purchasing an additional 99 shares during the quarter. Retirement Systems of Alabama owned about 0.24% of Ingredion worth $20,899,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock worth $38,000 after purchasing an additional 80 shares during the period. Wealthspire Advisors LLC grew its holdings in shares of Ingredion by 5.8% during the 1st quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock worth $228,000 after purchasing an additional 92 shares during the period. Bell Investment Advisors Inc grew its holdings in shares of Ingredion by 41.2% during the 1st quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock worth $47,000 after purchasing an additional 101 shares during the period. KBC Group NV grew its holdings in shares of Ingredion by 4.3% during the 1st quarter. KBC Group NV now owns 2,624 shares of the company’s stock worth $355,000 after purchasing an additional 109 shares during the period. Finally, Impact Partnership Wealth LLC grew its holdings in shares of Ingredion by 6.6% during the 1st quarter. Impact Partnership Wealth LLC now owns 1,800 shares of the company’s stock worth $243,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the transaction, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the transaction, the senior vice president owned 31,171 shares in the company, valued at $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 37,137 shares of company stock valued at $4,700,163. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of research reports. Oppenheimer set a $136.00 target price on Ingredion in a report on Wednesday, October 22nd. Wall Street Zen downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings downgraded shares of Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. UBS Group lowered their price objective on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Zacks Research downgraded shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $143.40.

Ingredion Stock Performance

Ingredion stock opened at $115.55 on Friday. The stock has a market cap of $7.42 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $122.81 and a 200-day moving average of $130.11. Ingredion Incorporated has a 52 week low of $114.26 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last released its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 EPS. On average, analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.82 per share. This is an increase from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, October 1st. This represents a $3.28 annualized dividend and a dividend yield of 2.8%. Ingredion’s dividend payout ratio (DPR) is currently 32.00%.

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.