Victory Capital Management Inc. Has $8.46 Million Position in Ingredion Incorporated (NYSE:INGR)

Victory Capital Management Inc. grew its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 124.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 61,575 shares of the company's stock after purchasing an additional 34,189 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Ingredion worth $8,462,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of INGR. Dimensional Fund Advisors LP boosted its holdings in shares of Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after buying an additional 125,543 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock valued at $202,332,000 after buying an additional 846,967 shares during the period. Cooke & Bieler LP grew its holdings in shares of Ingredion by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company's stock valued at $116,765,000 after acquiring an additional 27,087 shares in the last quarter. Equity Investment Corp raised its holdings in shares of Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company's stock worth $112,250,000 after acquiring an additional 26,526 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ingredion by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company's stock worth $87,125,000 after purchasing an additional 17,062 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the stock in a transaction dated 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 owns 52,159 shares of the company's stock, 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. Over the last ninety days, insiders have sold 36,178 shares of company stock valued at $4,982,857. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on INGR shares. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 7th. Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. UBS Group increased their price objective on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, BMO Capital Markets raised 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Ingredion currently has an average rating of "Moderate Buy" and an average target price of $155.17.

Ingredion Stock Performance

Shares of NYSE:INGR traded up $2.11 during trading on Friday, hitting $146.47. 528,310 shares of the stock were exchanged, compared to its average volume of 387,159. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.22 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44. The company's fifty day simple moving average is $138.09 and its 200-day simple moving average is $127.29.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 EPS. Sell-side analysts expect that Ingredion Incorporated will post 10.6 EPS 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 paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.18%. This is a boost from Ingredion's previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. Ingredion's dividend payout ratio is currently 31.22%.

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.