Ingredion Incorporated (NYSE:INGR) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Ingredion Incorporated (NYSE:INGR) by 191.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,970 shares of the company’s stock after purchasing an additional 13,108 shares during the period. Hsbc Holdings PLC’s holdings in Ingredion were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC raised its stake in Ingredion by 5.1% in the fourth quarter. Corient Private Wealth LLC now owns 8,837 shares of the company’s stock valued at $959,000 after buying an additional 425 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Ingredion by 178.9% during the 4th quarter. Franklin Resources Inc. now owns 59,551 shares of the company’s stock worth $6,463,000 after acquiring an additional 38,201 shares in the last quarter. US Bancorp DE lifted its stake in Ingredion by 4.8% during the fourth quarter. US Bancorp DE now owns 15,218 shares of the company’s stock worth $1,652,000 after purchasing an additional 696 shares during the last quarter. Intech Investment Management LLC acquired a new position in Ingredion in the fourth quarter valued at approximately $641,000. Finally, Parallel Advisors LLC increased its stake in Ingredion by 11.3% in the fourth quarter. Parallel Advisors LLC now owns 3,053 shares of the company’s stock valued at $331,000 after purchasing an additional 311 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Trading Up 1.8 %

Shares of INGR stock opened at $137.58 on Friday. The company has a market capitalization of $9.03 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. 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 business’s 50 day moving average is $130.21 and its two-hundred day moving average is $120.65. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $137.65.

Ingredion (NYSE:INGR) last posted its quarterly earnings data 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. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the firm posted $2.32 EPS. Equities analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders 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. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.33%. Ingredion’s payout ratio is presently 32.06%.

Analysts Set New Price Targets

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

Insider Activity

In related news, SVP Robert A. Ritchie sold 1,195 shares of the company’s 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 transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. The sale was disclosed in a 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 that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value 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 disclosure for this sale can be found here. Insiders sold 26,045 shares of company stock valued at $3,482,491 in the last three months. 1.80% of the stock is currently owned by company 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.