Ingredion Incorporated (NYSE:INGR) Stock Position Lessened by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,622,099 shares of the company's stock after selling 141,913 shares during the period. Pacer Advisors Inc. owned about 2.49% of Ingredion worth $222,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion during the 2nd quarter worth $26,000. 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 valued at $27,000 after purchasing an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion in the second quarter valued at $33,000. Prospera Private Wealth LLC acquired a new position in shares of Ingredion during the third quarter worth about $41,000. Finally, Family Firm Inc. acquired a new stake in shares of Ingredion in the 2nd quarter valued at $36,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Trading Up 1.4 %

Shares of NYSE INGR traded up $2.01 on Thursday, reaching $144.36. 369,363 shares of the company traded hands, compared to its average volume of 386,535. The company has a 50 day moving average of $137.90 and a 200 day moving average of $127.17. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a fifty-two week low of $100.90 and a fifty-two week high of $155.44. The stock has a market capitalization of $9.41 billion, a PE ratio of 13.89, a P/E/G ratio of 1.22 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last announced 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 company had revenue of $1.87 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $2.33 EPS. On average, equities research analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently disclosed 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 was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.22%. This is a positive change from Ingredion's previous quarterly dividend of $0.78. Ingredion's dividend payout ratio is presently 31.22%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the firm'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 transaction, the senior vice president now directly owns 29,034 shares of the company's stock, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company's stock, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,178 shares of company stock valued at $4,982,857. Company insiders own 1.80% of the company's stock.

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.