Algert Global LLC Reduces Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Algert Global LLC lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 26,111 shares of the company’s stock after selling 568 shares during the quarter. Algert Global LLC’s holdings in Ingredion were worth $2,995,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Ingredion by 92.4% during the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after buying an additional 846,967 shares during the period. Vanguard Group Inc. boosted its holdings in Ingredion by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock valued at $843,617,000 after acquiring an additional 427,496 shares during the period. Acadian Asset Management LLC grew its position in Ingredion by 177.8% in the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock valued at $45,491,000 after acquiring an additional 253,949 shares during the last quarter. Morningstar Investment Services LLC increased its stake in Ingredion by 98.5% in the fourth quarter. Morningstar Investment Services LLC now owns 393,101 shares of the company’s stock worth $42,789,000 after purchasing an additional 195,106 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ingredion by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after purchasing an additional 125,543 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Robert A. Ritchie sold 1,195 shares of the 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 of the company’s stock, valued at $1,988,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction of $3,024,857.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction that occurred 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 sale, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,046 shares of company stock worth $3,482,626. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of INGR stock opened at $136.03 on Wednesday. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.23 and a beta of 0.73. 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 company’s 50 day moving average is $130.92 and its 200 day moving average is $120.99.

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

Ingredion Increases Dividend

The company also recently declared 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 represents a $3.20 annualized dividend and a dividend yield of 2.35%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 32.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INGR. BMO Capital Markets upped 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. Oppenheimer raised their target price on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barclays raised shares of 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. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group lifted their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.