Ingredion Incorporated $INGR Stock Position Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,060 shares of the company’s stock after selling 1,009 shares during the period. Teacher Retirement System of Texas owned about 0.08% of Ingredion worth $7,196,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Ingredion in the first quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Ingredion in the second quarter valued at approximately $40,000. Costello Asset Management INC acquired a new stake in Ingredion in the first quarter valued at approximately $41,000. Finally, SouthState Corp acquired a new stake in Ingredion in the first quarter valued at approximately $41,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Price Performance

NYSE:INGR opened at $115.21 on Friday. The stock has a market cap of $7.39 billion, a P/E ratio of 11.24, a PEG ratio of 0.95 and a beta of 0.74. Ingredion Incorporated has a one year low of $115.14 and a one year high of $155.44. The company has a fifty day moving average price of $123.08 and a 200 day moving average price of $130.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

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 firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.87 EPS. Analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

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

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of analyst reports. Oppenheimer set a $136.00 price target on Ingredion in a research report on Wednesday, October 22nd. Zacks Research cut Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. UBS Group reduced their price target on Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Wall Street Zen raised Ingredion from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings downgraded shares of Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ingredion presently has a consensus rating of “Hold” and a consensus target price of $143.40.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the company’s 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 completion of the transaction, the chief executive officer owned 50,129 shares of the company’s stock, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the transaction, the senior vice president directly owned 31,171 shares of the company’s stock, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 37,137 shares of company stock valued at $4,700,163. Corporate insiders own 2.30% of the company’s stock.

About Ingredion

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.