Ingredion Incorporated (NYSE:INGR) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,539,179 shares of the company's stock after purchasing an additional 36,421 shares during the period. Massachusetts Financial Services Co. MA owned 2.37% of Ingredion worth $211,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of Ingredion by 154.0% in the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company's stock valued at $9,101,000 after buying an additional 47,225 shares during the period. Point72 DIFC Ltd grew its stake in Ingredion by 2,629.3% during the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company's stock worth $438,000 after purchasing an additional 3,681 shares during the period. AQR Capital Management LLC grew its stake in Ingredion by 55.7% during the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company's stock worth $36,902,000 after purchasing an additional 115,147 shares during the period. Bridges Investment Management Inc. acquired a new stake in Ingredion during the second quarter worth approximately $528,000. Finally, Waverly Advisors LLC acquired a new stake in Ingredion during the first quarter worth approximately $5,301,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Stock Up 1.5 %

Shares of INGR stock traded up $2.11 during midday trading on Friday, reaching $146.47. 528,312 shares of the stock were exchanged, compared to its average volume of 524,146. Ingredion Incorporated has a 1 year low of $100.90 and a 1 year high of $155.44. The company's 50 day moving average is $138.33 and its two-hundred day moving average is $127.50. 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 firm has a market cap of $9.54 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.24 and a beta of 0.73.

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

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors 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 annualized dividend and a yield of 2.18%. This is a positive change from Ingredion's previous quarterly dividend of $0.78. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 371 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 52,159 shares of the company's stock, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,178 shares of company stock worth $4,982,857 over the last 90 days. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BMO Capital Markets raised their target price on Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 6th. UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $155.17.

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.