GAMMA Investing LLC Has $132,000 Stock Position in Ingredion Incorporated (NYSE:INGR)

GAMMA Investing LLC boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 60.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 963 shares of the company’s stock after purchasing an additional 363 shares during the quarter. GAMMA Investing LLC’s holdings in Ingredion were worth $132,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion during the second quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion in the 2nd quarter valued at approximately $33,000. Family Firm Inc. acquired a new stake in shares of Ingredion during the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ingredion during the 2nd quarter worth approximately $36,000. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Down 0.1 %

Shares of INGR opened at $133.41 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The company has a market capitalization of $8.76 billion, a P/E ratio of 13.37, a PEG ratio of 1.22 and a beta of 0.72. The business’s 50 day simple moving average is $133.26 and its 200-day simple moving average is $122.06. Ingredion Incorporated has a one year low of $89.54 and a one year high of $138.37.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm earned $2.32 EPS. The company’s revenue was down 9.2% on a year-over-year basis. As a group, sell-side analysts predict that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.40%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction on 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 sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were 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 owns 15,906 shares in the company, valued at $1,988,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 1,000 shares of the 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 sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,046 shares of company stock worth $3,482,626 in the last quarter. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INGR. BMO Capital Markets raised 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. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. UBS Group increased their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Oppenheimer boosted their price target on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.33.

About Ingredion

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.