Signaturefd LLC Boosts Stake in Ingredion Incorporated (NYSE:INGR)

Signaturefd LLC grew its stake in Ingredion Incorporated (NYSE:INGR) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,570 shares of the company’s stock after buying an additional 85 shares during the period. Signaturefd LLC’s holdings in Ingredion were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in INGR. Dimensional Fund Advisors LP raised its holdings 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. Pacer Advisors Inc. raised its holdings 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 worth $202,332,000 after purchasing an additional 846,967 shares during the last quarter. Cooke & Bieler LP raised its holdings 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 worth $116,765,000 after purchasing an additional 27,087 shares during the last quarter. Equity Investment Corp raised its holdings in shares of Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after purchasing an additional 26,526 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Ingredion by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock worth $87,125,000 after purchasing an additional 17,062 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Down 0.4 %

Shares of NYSE INGR opened at $135.00 on Friday. The company’s 50-day simple moving average is $134.60 and its 200-day simple moving average is $123.44. Ingredion Incorporated has a 52-week low of $91.60 and a 52-week high of $138.37. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

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

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. Ingredion’s dividend payout ratio (DPR) is 32.06%.

Insider Activity

In related news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,551 shares of company stock worth $3,550,084 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report 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 company from $122.00 to $145.00 in a research report on Friday, August 9th. BMO Capital Markets raised their price target on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer raised their price target on shares of Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.83.

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.