Ingredion Incorporated (NYSE:INGR) Shares Purchased by Concord Wealth Partners

Concord Wealth Partners raised its holdings in Ingredion Incorporated (NYSE:INGR) by 82.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 493 shares of the company’s stock after purchasing an additional 223 shares during the quarter. Concord Wealth Partners’ holdings in Ingredion were worth $68,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ingredion in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its position in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ingredion in the 2nd quarter valued at approximately $33,000. Family Firm Inc. acquired a new position in shares of Ingredion in the second quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ingredion during the second quarter worth approximately $36,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INGR has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on shares of Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. UBS Group lifted their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets increased their price target on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.83.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,551 shares of company stock valued at $3,550,084 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Down 0.1 %

INGR stock opened at $134.80 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $134.60 and its 200 day moving average price is $123.51. Ingredion Incorporated has a 52 week low of $91.60 and a 52 week high of $138.37. The company has a market cap of $8.85 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company earned $2.32 EPS. The company’s quarterly revenue was down 9.2% on a year-over-year basis. On average, research analysts expect that Ingredion Incorporated will post 9.95 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 given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is currently 32.06%.

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.