Sanctuary Advisors LLC Cuts Stake in Ingredion Incorporated (NYSE:INGR)

Sanctuary Advisors LLC lowered its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 41.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 12,928 shares of the company's stock after selling 9,304 shares during the period. Sanctuary Advisors LLC's holdings in Ingredion were worth $1,894,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Ingredion by 298.7% during the second quarter. Blue Trust Inc. now owns 594 shares of the company's stock worth $69,000 after buying an additional 445 shares in the last quarter. Raymond James & Associates boosted its position in Ingredion by 6.7% during the second quarter. Raymond James & Associates now owns 206,798 shares of the company's stock worth $23,720,000 after purchasing an additional 12,918 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Ingredion by 57.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,616 shares of the company's stock valued at $415,000 after purchasing an additional 1,326 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Ingredion in the second quarter valued at approximately $245,000. Finally, &PARTNERS acquired a new position in shares of Ingredion during the 2nd quarter worth approximately $285,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Buying and Selling at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,198 shares of company stock valued at $9,702,461. Insiders own 1.80% of the company's stock.

Ingredion Trading Down 2.2 %

Ingredion stock traded down $3.06 during midday trading on Thursday, reaching $138.78. 770,996 shares of the stock traded hands, compared to its average volume of 396,327. The firm has a market cap of $9.04 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.24 and a beta of 0.74. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $142.09 and a two-hundred day simple moving average of $131.05. Ingredion Incorporated has a 12-month low of $106.03 and a 12-month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company posted $2.33 EPS. The firm's revenue was down 8.0% compared to the same quarter last year. Research analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders 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 yield of 2.31%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion's dividend payout ratio (DPR) is presently 31.22%.

Wall Street Analyst Weigh In

A number of brokerages have commented on INGR. Stephens raised Ingredion to a "hold" rating in a report on Monday, December 2nd. BMO Capital Markets increased their price objective on Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a research note on Wednesday, November 6th. Barclays raised their price objective on Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. UBS Group upped their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Oppenheimer boosted their price target 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ingredion currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.17.

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.