Crossmark Global Holdings Inc. Sells 87,914 Shares of Ingredion Incorporated (NYSE:INGR)

Crossmark Global Holdings Inc. lessened its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 94.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,567 shares of the company's stock after selling 87,914 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Ingredion were worth $765,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in INGR. Pacer Advisors Inc. lifted its holdings in Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock worth $202,332,000 after buying an additional 846,967 shares during the period. Acadian Asset Management LLC boosted its holdings in Ingredion by 177.8% in the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company's stock valued at $45,491,000 after acquiring an additional 253,949 shares in the last quarter. International Assets Investment Management LLC increased its position in Ingredion by 55,219.9% during the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company's stock valued at $240,240,000 after purchasing an additional 174,495 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after purchasing an additional 125,543 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Ingredion by 43.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company's stock worth $47,303,000 after purchasing an additional 123,406 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INGR has been the subject of a number of research reports. Oppenheimer increased their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. UBS Group lifted their price target on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a research report on Friday. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Ingredion presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.17.

Ingredion Trading Down 5.6 %

Ingredion stock opened at $140.79 on Friday. Ingredion Incorporated has a 12 month low of $100.90 and a 12 month high of $155.44. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The business's fifty day simple moving average is $137.44 and its two-hundred day simple moving average is $126.35. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73.

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 company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 EPS. As a group, equities analysts predict that Ingredion Incorporated will post 10.6 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 22nd. Investors of record on Tuesday, October 1st were issued a $0.80 dividend. This is a positive change from Ingredion's previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, October 1st. Ingredion's payout ratio is presently 31.22%.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 1,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,056 shares of company stock valued at $4,121,736. 1.80% of the stock is owned by corporate insiders.

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.