TD Asset Management Inc Lowers Position in Ingredion Incorporated (NYSE:INGR)

TD Asset Management Inc cut its stake in Ingredion Incorporated (NYSE:INGR) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,900 shares of the company’s stock after selling 1,500 shares during the quarter. TD Asset Management Inc’s holdings in Ingredion were worth $4,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Ingredion during the fourth quarter valued at approximately $82,272,000. Vanguard Group Inc. increased its stake in shares of Ingredion by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock valued at $843,617,000 after purchasing an additional 427,496 shares in the last quarter. Morningstar Investment Services LLC increased its stake in shares of Ingredion by 98.5% during the fourth quarter. Morningstar Investment Services LLC now owns 393,101 shares of the company’s stock valued at $42,789,000 after purchasing an additional 195,106 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Ingredion by 43.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock valued at $47,303,000 after purchasing an additional 123,406 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Ingredion by 207.9% in the 1st quarter. Van ECK Associates Corp now owns 170,910 shares of the company’s stock worth $19,971,000 after acquiring an additional 115,399 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Down 0.7 %

Shares of INGR stock opened at $134.49 on Thursday. The stock has a market cap of $8.75 billion, a P/E ratio of 13.40, a PEG ratio of 1.24 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $137.21. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $125.26 and its two-hundred day simple moving average is $119.12.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.34. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.32 EPS. Analysts predict that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio is 31.26%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The disclosure for this sale can be found here. Insiders have sold 26,045 shares of company stock valued at $3,482,491 in the last ninety days. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.