M&T Bank Corp Has $8.43 Million Position in Ingredion Incorporated (NYSE:INGR)

M&T Bank Corp reduced its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,319 shares of the company's stock after selling 3,950 shares during the period. M&T Bank Corp owned about 0.09% of Ingredion worth $8,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Signaturefd LLC raised its holdings in shares of Ingredion by 5.7% in the third quarter. Signaturefd LLC now owns 1,570 shares of the company's stock valued at $216,000 after buying an additional 85 shares during the last quarter. Seelaus Asset Management LLC increased its position in Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company's stock valued at $451,000 after acquiring an additional 105 shares in the last quarter. Conscious Wealth Investments LLC raised its stake in shares of Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company's stock worth $2,967,000 after acquiring an additional 106 shares during the last quarter. Delphi Management Inc. MA lifted its position in shares of Ingredion by 0.8% during the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company's stock worth $1,793,000 after purchasing an additional 123 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Ingredion by 1.1% during the third quarter. QRG Capital Management Inc. now owns 12,571 shares of the company's stock valued at $1,728,000 after purchasing an additional 133 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on INGR shares. Oppenheimer boosted their price objective 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. Stephens upgraded Ingredion to a "hold" rating in a report on Monday, December 2nd. UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Barclays raised 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. Finally, BMO Capital Markets boosted their price target 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $155.17.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 371 shares of the company's stock in a transaction on Thursday, October 10th. The shares were 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares of the company's stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,198 shares of company stock worth $9,702,461. 1.80% of the stock is owned by company insiders.

Ingredion Trading Up 0.4 %

Ingredion stock traded up $0.51 during midday trading on Monday, hitting $138.70. 420,352 shares of the stock were exchanged, compared to its average volume of 400,927. The stock has a market capitalization of $9.04 billion, a PE ratio of 13.53, a P/E/G ratio of 1.24 and a beta of 0.74. The company has a fifty day simple moving average of $142.37 and a two-hundred day simple moving average of $131.64. 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 announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $2.33 earnings per share. Equities research analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current fiscal 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 issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Thursday, January 2nd. Ingredion's dividend payout ratio (DPR) is presently 31.22%.

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.