Signet Financial Management LLC Makes New $476,000 Investment in Ingredion Incorporated (NYSE:INGR)

Signet Financial Management LLC purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,074 shares of the company’s stock, valued at approximately $476,000.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in Ingredion during the fourth quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after acquiring an additional 147 shares in the last quarter. Blue Trust Inc. boosted its holdings in Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after acquiring an additional 103 shares in the last quarter. National Bank of Canada FI boosted its holdings in Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after acquiring an additional 159 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Ingredion by 54.0% in the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock worth $72,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 13th. BMO Capital Markets lifted their target price on Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. Finally, Barclays lifted their target price on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $127.17.

Ingredion Stock Up 0.6 %

Shares of INGR stock opened at $114.76 on Friday. The stock has a 50 day moving average of $116.20 and a 200 day moving average of $113.41. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. The stock has a market cap of $7.53 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.06 and a beta of 0.74. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $122.18.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, meeting analysts’ consensus estimates of $2.08. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 earnings per share. As a group, sell-side analysts expect that Ingredion Incorporated will post 9.76 EPS for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, July 1st. Ingredion’s dividend payout ratio (DPR) is presently 31.26%.

Insider Activity

In other news, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the completion of the sale, the chief executive officer now directly owns 52,197 shares in the company, valued at $6,073,642.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO James D. Gray sold 8,490 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the sale, the chief financial officer now directly owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the sale, the chief executive officer now owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The disclosure for this sale can be found here. Insiders sold 38,359 shares of company stock worth $4,515,644 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.