JPMorgan Chase & Co. Grows Position in Ingredion Incorporated (NYSE:INGR)

JPMorgan Chase & Co. increased its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 305,827 shares of the company's stock after purchasing an additional 35,657 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.47% of Ingredion worth $42,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ingredion in the 2nd quarter worth approximately $33,000. Prospera Private Wealth LLC purchased a new position in Ingredion during the third quarter valued at $41,000. Abich Financial Wealth Management LLC bought a new stake in Ingredion in the second quarter worth $56,000. Concord Wealth Partners grew its stake in shares of Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company's stock worth $68,000 after acquiring an additional 223 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Ingredion during the third quarter valued at $86,000. Institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INGR shares. Stephens upgraded shares of Ingredion to a "hold" rating in a research note on Monday, December 2nd. BMO Capital Markets upped their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 6th. Barclays raised their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Oppenheimer upped their price objective on Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Finally, UBS Group increased their target price on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $155.17.

Insider Transactions at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,197 shares of company stock worth $9,702,325 in the last three months. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Performance

INGR traded down $2.49 during mid-day trading on Monday, reaching $134.04. 437,466 shares of the company traded hands, compared to its average volume of 380,755. The company's fifty day moving average price is $142.91 and its 200-day moving average price is $133.22. The stock has a market capitalization of $8.73 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.24 and a beta of 0.75. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 52-week low of $106.03 and a 52-week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion during 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%. Ingredion's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. On average, sell-side analysts expect that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion's 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.