Texas Permanent School Fund Corp Has $7.64 Million Stock Position in Ingredion Incorporated (NYSE:INGR)

Texas Permanent School Fund Corp grew its position in Ingredion Incorporated (NYSE:INGR) by 16.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,596 shares of the company’s stock after buying an additional 9,534 shares during the period. Texas Permanent School Fund Corp owned approximately 0.10% of Ingredion worth $7,639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Loews Corp boosted its stake in Ingredion by 11.1% in the 4th quarter. Loews Corp now owns 200,000 shares of the company’s stock worth $21,706,000 after purchasing an additional 20,000 shares during the period. Insight Wealth Strategies LLC boosted its stake in Ingredion by 230.9% in the 1st quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after purchasing an additional 9,577 shares during the period. Janus Henderson Group PLC boosted its stake in Ingredion by 154.0% in the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after purchasing an additional 47,225 shares during the period. Sei Investments Co. boosted its stake in Ingredion by 23.4% in the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after purchasing an additional 21,619 shares during the period. Finally, BNP Paribas acquired a new position in Ingredion in the 1st quarter worth $1,154,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In related news, CEO James P. Zallie sold 22,550 shares of Ingredion 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction on Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $7,046,374.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,045 shares of company stock valued at $3,482,491. Insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE INGR opened at $135.49 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.24 and a beta of 0.73. The firm’s 50 day simple moving average is $124.81 and its 200 day simple moving average is $118.98. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $137.21.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business posted $2.32 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, research analysts expect that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 31.26%.

Analyst Upgrades and Downgrades

INGR has been the subject of a number of research analyst reports. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. Oppenheimer increased their price objective on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. UBS Group increased their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and an average price target of $137.33.

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.