Raymond James & Associates Raises Holdings in Ingredion Incorporated (NYSE:INGR)

Raymond James & Associates boosted its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 230,194 shares of the company's stock after purchasing an additional 23,396 shares during the quarter. Raymond James & Associates owned about 0.35% of Ingredion worth $31,636,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ingredion in the second quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock worth $27,000 after purchasing an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion in the second quarter worth approximately $33,000. Family Firm Inc. bought a new stake in Ingredion in the second quarter worth approximately $36,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ingredion during the second quarter valued at approximately $36,000. 85.27% of the stock is currently owned by institutional investors.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Robert A. Ritchie sold 1,195 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the transaction, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James P. Zallie sold 22,550 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company's stock, valued at $7,046,374.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,551 shares of company stock worth $3,550,084. 1.80% of the stock is owned by company insiders.

Ingredion Stock Down 0.3 %

Shares of NYSE:INGR traded down $0.45 during mid-day trading on Thursday, hitting $135.52. 253,050 shares of the company traded hands, compared to its average volume of 373,180. The stock has a market cap of $8.90 billion, a P/E ratio of 13.58, a P/E/G 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 Incorporated has a 12-month low of $90.72 and a 12-month high of $138.37. The stock has a 50-day moving average price of $134.52 and a two-hundred day moving average price of $123.22.

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

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from Ingredion's previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion's payout ratio is presently 32.06%.

Analysts Set New Price Targets

INGR has been the subject of several recent research reports. UBS Group boosted their price objective on Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 15th. BMO Capital Markets boosted their price objective on Ingredion from $120.00 to $128.00 and gave the company a "market perform" rating in a report on Wednesday, August 7th. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. Barclays upgraded Ingredion from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $122.00 to $145.00 in a report on Friday, August 9th. Finally, Oppenheimer boosted their price objective on Ingredion from $138.00 to $147.00 and gave the company an "outperform" rating in a report on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.83.

Ingredion 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.