Ontario Teachers Pension Plan Board Sells 32,194 Shares of Ingredion Incorporated (NYSE:INGR)

Ontario Teachers Pension Plan Board decreased its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 64.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,814 shares of the company's stock after selling 32,194 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Ingredion were worth $2,448,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of INGR. Janus Henderson Group PLC boosted its stake in shares of Ingredion by 154.0% during the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company's stock worth $9,101,000 after acquiring an additional 47,225 shares in the last quarter. Point72 DIFC Ltd lifted its holdings in shares of Ingredion by 2,629.3% during the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company's stock valued at $438,000 after purchasing an additional 3,681 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Ingredion by 55.7% in the 2nd quarter. AQR Capital Management LLC now owns 321,729 shares of the company's stock valued at $36,902,000 after purchasing an additional 115,147 shares during the period. Bridges Investment Management Inc. purchased a new position in Ingredion in the 2nd quarter worth about $528,000. Finally, Waverly Advisors LLC acquired a new stake in Ingredion during the 1st quarter worth about $5,301,000. Institutional investors own 85.27% of the company's stock.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. This represents a 30.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,178 shares of company stock valued at $4,982,857 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Barclays boosted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. 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 price target 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 given a buy rating to the stock. According to data from MarketBeat, Ingredion currently has an average rating of "Moderate Buy" and a consensus target price of $155.17.

Ingredion Stock Up 0.3 %

INGR stock traded up $0.39 during mid-day trading on Wednesday, hitting $142.37. 396,181 shares of the company were exchanged, compared to its average volume of 386,611. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44. The firm's 50 day simple moving average is $137.74 and its 200 day simple moving average is $127.06. The firm has a market cap of $9.28 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.21 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 EPS. On average, sell-side analysts predict that Ingredion Incorporated will post 10.6 EPS 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 issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Tuesday, October 1st. This is an increase from Ingredion's previous quarterly dividend of $0.78. Ingredion's dividend payout ratio is 31.22%.

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.