Amalgamated Bank Trims Stock Position in Ingredion Incorporated (NYSE:INGR)

Amalgamated Bank trimmed its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 24.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,039 shares of the company's stock after selling 10,129 shares during the quarter. Amalgamated Bank's holdings in Ingredion were worth $4,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INGR. Signaturefd LLC grew its holdings in shares of Ingredion by 5.7% in the third quarter. Signaturefd LLC now owns 1,570 shares of the company's stock worth $216,000 after purchasing an additional 85 shares during the last quarter. Conscious Wealth Investments LLC grew its holdings in shares of Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company's stock worth $2,967,000 after purchasing an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock worth $27,000 after purchasing an additional 118 shares during the last quarter. Delphi Management Inc. MA grew its holdings in shares of Ingredion by 0.8% in the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company's stock worth $1,793,000 after purchasing an additional 123 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Ingredion by 1.1% in the third quarter. QRG Capital Management Inc. now owns 12,571 shares of the company's stock worth $1,728,000 after purchasing an additional 133 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company's stock, valued at $4,454,105.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company's stock, valued at approximately $4,454,105.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 1,300 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company's stock, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,056 shares of company stock valued at $4,121,736 in the last quarter. 1.80% of the stock is owned by insiders.

Ingredion Stock Up 1.0 %

Ingredion stock traded up $1.55 on Friday, hitting $151.55. 488,970 shares of the stock traded hands, compared to its average volume of 382,900. The company has a current ratio of 2.67, a quick ratio of 1.51 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.86 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. The business's fifty day simple moving average is $136.22 and its 200 day simple moving average is $125.37. Ingredion Incorporated has a 1 year low of $100.53 and a 1 year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, sell-side analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion Increases Dividend

The business 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. This represents a $3.20 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Tuesday, October 1st. This is a positive change from Ingredion's previous quarterly dividend of $0.78. Ingredion's payout ratio is currently 31.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday. BMO Capital Markets raised their price target on Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a research note on Wednesday. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. Oppenheimer raised their price target on Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, UBS Group raised their price target on Ingredion from $141.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and an average target price of $151.00.

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.