Ingredion Incorporated (NYSE:INGR) Stake Lifted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 71.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,030 shares of the company's stock after purchasing an additional 35,477 shares during the quarter. Harbor Capital Advisors Inc. owned 0.13% of Ingredion worth $11,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INGR. Janus Henderson Group PLC increased its position in shares of Ingredion by 154.0% in the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company's stock valued at $9,101,000 after buying an additional 47,225 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Ingredion by 23.4% in the first quarter. Sei Investments Co. now owns 113,876 shares of the company's stock worth $13,305,000 after acquiring an additional 21,619 shares during the last quarter. BNP Paribas purchased a new stake in shares of Ingredion in the first quarter valued at $1,154,000. Empowered Funds LLC purchased a new stake in Ingredion during the 1st quarter worth about $1,812,000. Finally, Point72 DIFC Ltd raised its stake in Ingredion by 2,629.3% in the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company's stock valued at $438,000 after purchasing an additional 3,681 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INGR. BMO Capital Markets lifted their price target on shares of Ingredion from $120.00 to $128.00 and gave the stock a "market perform" rating in a report on Wednesday, August 7th. Oppenheimer raised their price objective on Ingredion from $138.00 to $147.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 7th. Barclays upgraded Ingredion from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, UBS Group lifted their price target on Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingredion has a consensus rating of "Moderate Buy" and an average target price of $138.83.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 1,300 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 1,300 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company's stock, valued at $7,040,595.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,356 shares of company stock valued at $3,400,709 in the last ninety days. Insiders own 1.80% of the company's stock.

Ingredion Trading Up 0.8 %

Shares of NYSE:INGR traded up $1.01 during trading on Friday, reaching $133.77. 258,060 shares of the stock were exchanged, compared to its average volume of 274,913. The firm's 50-day moving average price is $134.74 and its 200 day moving average price is $124.31. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73. Ingredion Incorporated has a 12-month low of $93.26 and a 12-month high of $138.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm earned $2.32 earnings per share. Ingredion's revenue for the quarter was down 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ingredion Incorporated will post 10.05 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.39%. This is a positive change from Ingredion's previous quarterly dividend of $0.78. Ingredion's payout ratio is currently 32.72%.

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.