LSV Asset Management Sells 22,350 Shares of Ingredion Incorporated (NYSE:INGR)

LSV Asset Management reduced its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,166,742 shares of the company's stock after selling 22,350 shares during the period. LSV Asset Management owned 3.30% of Ingredion worth $248,525,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock valued at $27,000 after buying an additional 118 shares during the period. Patrick M Sweeney & Associates Inc. boosted its position in Ingredion by 6.3% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company's stock worth $255,000 after purchasing an additional 130 shares during the period. STAR Financial Bank boosted its position in Ingredion by 3.8% during the 4th quarter. STAR Financial Bank now owns 3,581 shares of the company's stock worth $389,000 after purchasing an additional 132 shares during the period. Signaturefd LLC boosted its position in Ingredion by 10.4% during the 2nd quarter. Signaturefd LLC now owns 1,485 shares of the company's stock worth $170,000 after purchasing an additional 140 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Ingredion by 0.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,806 shares of the company's stock worth $2,081,000 after purchasing an additional 154 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Up 0.2 %

Shares of INGR stock traded up $0.31 on Friday, hitting $135.23. The company's stock had a trading volume of 285,678 shares, compared to its average volume of 381,274. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.23 and a beta of 0.73. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $136.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The firm's fifty day moving average price is $124.37 and its 200-day moving average price is $118.80.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.34. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.32 earnings per share. Research analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.80 per share. This is an increase from Ingredion's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. Ingredion's dividend payout ratio is currently 32.06%.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,070.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO James P. Zallie sold 1,300 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company's stock, valued at $7,040,595.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The disclosure for this sale can be found here. Insiders sold 26,045 shares of company stock valued at $3,482,491 over the last quarter. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on INGR shares. UBS Group boosted their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. BMO Capital Markets upped their target price on shares of Ingredion from $120.00 to $128.00 and gave the company a "market perform" rating in a research note on Wednesday, August 7th. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. Barclays upgraded shares of Ingredion from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. Finally, Oppenheimer increased their price objective on shares of Ingredion from $126.00 to $138.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. One equities research 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.33.

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.