Massmutual Trust Co. FSB ADV Sells 255 Shares of Ingredion Incorporated (NYSE:INGR)

Massmutual Trust Co. FSB ADV lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,368 shares of the company’s stock after selling 255 shares during the period. Massmutual Trust Co. FSB ADV owned 0.06% of Ingredion worth $5,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Ingredion by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock worth $843,617,000 after acquiring an additional 427,496 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $308,009,000 after buying an additional 125,543 shares during the period. 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. Cooke & Bieler LP boosted its position in shares of Ingredion by 2.7% during the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after buying an additional 27,087 shares during the period. Finally, Equity Investment Corp boosted its position in shares of Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after buying an additional 26,526 shares during the period. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

INGR has been the subject of several recent analyst reports. BMO Capital Markets boosted their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. 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. Oppenheimer lifted their price target on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average price target of $137.33.

Insider Activity

In other news, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ingredion 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 sale, 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 filing with the SEC, which is available through 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 transaction 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 approximately $7,040,070.60. The disclosure for this sale can be found here. Insiders have sold 26,046 shares of company stock valued at $3,482,626 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Performance

Shares of INGR stock opened at $134.19 on Friday. The business’s fifty day simple moving average is $131.92 and its 200-day simple moving average is $121.33. The company has a market cap of $8.81 billion, a PE ratio of 13.45, a PEG 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. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $138.37.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 earnings per share. Analysts expect that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.38%. Ingredion’s payout ratio is 32.06%.

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.