Net Worth Advisory Group Makes New $614,000 Investment in Ingredion Incorporated (NYSE:INGR)

Net Worth Advisory Group acquired a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,469 shares of the company's stock, valued at approximately $614,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion in the second quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Ingredion by 102.6% in the 1st 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 about $33,000. Family Firm Inc. purchased a new stake in Ingredion during the second quarter worth about $36,000. Finally, International Assets Investment Management LLC acquired a new position in Ingredion during the second quarter worth about $36,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling at Ingredion

In related news, SVP Robert A. Ritchie sold 1,195 shares of the company's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares of the company's stock, valued at approximately $1,988,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the sale, the senior vice president now owns 15,906 shares of the company's stock, valued at $1,988,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was 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 in the company, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,551 shares of company stock valued at $3,550,084 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INGR. Oppenheimer lifted their price target on shares of Ingredion from $126.00 to $138.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. UBS Group upped their target price on Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Barclays raised Ingredion from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. BMO Capital Markets lifted their price objective on Ingredion from $120.00 to $128.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.33.

Ingredion Trading Down 0.4 %

Shares of INGR traded down $0.56 during mid-day trading on Friday, reaching $134.26. The company had a trading volume of 222,999 shares, compared to its average volume of 374,648. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37. The firm has a fifty day simple moving average of $134.12 and a 200-day simple moving average of $122.77. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share 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 analysts' expectations of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.32 earnings per share. On average, sell-side analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a $0.80 dividend. This is a positive change from Ingredion's previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.38%. Ingredion's dividend payout ratio (DPR) is presently 32.06%.

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.