New Wave Wealth Advisors LLC Purchases Shares of 2,430 Ingredion Incorporated (NYSE:INGR)

New Wave Wealth Advisors LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,430 shares of the company’s stock, valued at approximately $279,000.

Other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Ingredion in the second quarter valued at $26,000. Jones Financial Companies Lllp acquired a new stake in Ingredion during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion in the 2nd quarter valued at about $33,000. Finally, Family Firm Inc. acquired a new position in shares of Ingredion in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Up 0.0 %

INGR opened at $137.39 on Tuesday. The firm has a market cap of $9.02 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The business has a 50 day moving average price of $130.57 and a 200 day moving average price of $120.83. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $138.37.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.32 EPS. Research analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO James P. Zallie sold 22,550 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the 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 transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The disclosure for this sale can be found here. Insiders have sold a total of 26,045 shares of company stock valued at $3,482,491 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.