Ingredion Incorporated (NYSE:INGR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in Ingredion Incorporated (NYSE:INGR) by 0.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,502,758 shares of the company’s stock after selling 5,305 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Ingredion were worth $172,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in Ingredion during the fourth quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its holdings in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. Family Firm Inc. purchased a new position in Ingredion during the second quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new stake in Ingredion in the second quarter valued at approximately $36,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Trading Down 0.3 %

INGR opened at $134.27 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The company’s 50 day simple moving average is $127.46 and its two-hundred day simple moving average is $119.77. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $137.21.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $2.32 earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. Analysts expect 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 dividend of $0.80 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.38%. The ex-dividend date is Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays raised 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. UBS Group increased their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets raised their price target on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer boosted their price objective on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $137.33.

Insiders Place Their Bets

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

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.