Ingredion Incorporated $INGR Stock Position Boosted by Strs Ohio

Strs Ohio boosted its stake in Ingredion Incorporated (NYSE:INGR) by 8.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,068 shares of the company’s stock after buying an additional 1,515 shares during the period. Strs Ohio’s holdings in Ingredion were worth $2,586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jump Financial LLC lifted its stake in Ingredion by 474.2% during the first quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock valued at $1,555,000 after buying an additional 9,498 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Ingredion by 38.2% during the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock valued at $46,268,000 after buying an additional 94,575 shares in the last quarter. Nordea Investment Management AB lifted its stake in Ingredion by 66.3% during the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after buying an additional 288,201 shares in the last quarter. Brown Advisory Inc. lifted its stake in Ingredion by 8.4% during the first quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock valued at $313,000 after buying an additional 180 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in Ingredion during the second quarter valued at about $232,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In related 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 value of $4,591,031.24. Following the transaction, the chief executive officer owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Ingredion Price Performance

NYSE INGR opened at $113.90 on Tuesday. The company has a 50 day simple moving average of $122.53 and a 200-day simple moving average of $130.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74. Ingredion Incorporated has a 52-week low of $113.79 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted $2.87 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. Equities research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were issued a $0.82 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Wednesday, October 1st. Ingredion’s dividend payout ratio is currently 32.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on INGR shares. Weiss Ratings lowered shares of Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer set a $136.00 price objective on shares of Ingredion in a research note on Wednesday, October 22nd. UBS Group reduced their price target 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 lowered 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $143.40.

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.