Dana Investment Advisors Inc. Cuts Stake in Ingredion Incorporated (NYSE:INGR)

Dana Investment Advisors Inc. lowered its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 64,007 shares of the company’s stock after selling 2,689 shares during the period. Dana Investment Advisors Inc.’s holdings in Ingredion were worth $7,342,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in Ingredion in the second quarter worth $279,000. Delphi Management Inc. MA increased its holdings in Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Ingredion in the 2nd quarter worth about $2,966,000. Brandes Investment Partners LP lifted its holdings in Ingredion by 21.3% during the second quarter. Brandes Investment Partners LP now owns 431,339 shares of the company’s stock valued at $49,477,000 after purchasing an additional 75,754 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Ingredion during the second quarter valued at about $432,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction on 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 directly owns 52,530 shares in the company, valued at $7,046,374.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ingredion news, 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 transaction of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,046 shares of company stock worth $3,482,626. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Trading Down 0.4 %

Shares of INGR stock opened at $136.03 on Wednesday. The company has a market capitalization of $8.93 billion, a PE ratio of 13.63, a price-to-earnings-growth 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 business’s fifty day moving average is $130.92 and its 200 day moving average is $120.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52.

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

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. 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 currently 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.