Profund Advisors LLC Reduces Stock Position in Ingredion Incorporated (NYSE:INGR)

Profund Advisors LLC trimmed its position in Ingredion Incorporated (NYSE:INGR) by 16.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,774 shares of the company’s stock after selling 360 shares during the quarter. Profund Advisors LLC’s holdings in Ingredion were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Conscious Wealth Investments LLC boosted its holdings in Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after purchasing an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Ingredion by 6.3% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock worth $255,000 after buying an additional 130 shares during the last quarter. STAR Financial Bank grew its holdings in Ingredion by 3.8% during the fourth quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock worth $389,000 after acquiring an additional 132 shares during the period. Finally, Signaturefd LLC raised its position in Ingredion by 10.4% during the second quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock valued at $170,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 22,550 shares of the firm’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 of the company’s stock, valued at $7,046,374.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 directly owns 15,906 shares in the company, valued at $1,988,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The disclosure for this sale can be found here. Insiders sold 26,045 shares of company stock valued at $3,482,491 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Ingredion Stock Down 0.1 %

INGR stock opened at $137.37 on Monday. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $138.37. 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 firm has a 50-day simple moving average of $130.57 and a 200-day simple moving average of $120.81. The stock has a market capitalization of $9.02 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.32 EPS. Equities analysts forecast that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal 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 paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is 32.06%.

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.