Ingredion Incorporated (NYSE:INGR) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,679 shares of the company’s stock after selling 1,853 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ingredion were worth $1,055,000 at the end of the most recent quarter.

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

Insider Transactions at Ingredion

In other 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 transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of the business’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 sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,356 shares of company stock valued at $3,400,709 over the last three months. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

INGR opened at $133.77 on Friday. The business has a 50 day moving average price of $134.72 and a two-hundred day moving average price of $123.97. 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 $8.70 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. Ingredion Incorporated has a 1-year low of $93.26 and a 1-year high of $138.37.

Ingredion (NYSE:INGR) last announced its quarterly earnings data 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. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.32 earnings per share. Research analysts predict that Ingredion Incorporated will post 10.05 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 dividend of $0.80 per share. The ex-dividend date was 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 2.39%. Ingredion’s payout ratio is 32.72%.

Wall Street Analyst Weigh In

INGR has been the topic of several recent research reports. BMO Capital Markets lifted their price objective 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. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. Oppenheimer raised their target price on Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. UBS Group boosted their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.83.

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.