Verdence Capital Advisors LLC Has $441,000 Stake in Ingredion Incorporated (NYSE:INGR)

Verdence Capital Advisors LLC trimmed its position in Ingredion Incorporated (NYSE:INGR) by 13.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,212 shares of the company’s stock after selling 520 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Ingredion were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INGR. Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 125,543 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Ingredion by 92.4% in 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 in the last quarter. 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 worth $116,765,000 after buying an additional 27,087 shares during the period. Equity Investment Corp boosted its position in Ingredion by 2.8% during the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after acquiring an additional 26,526 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Ingredion by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock valued at $87,125,000 after purchasing an additional 17,062 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. 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 is available through this hyperlink. In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents 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 this link. Also, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,056 shares of company stock worth $4,121,736 in the last quarter. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Down 1.2 %

Shares of NYSE INGR opened at $149.75 on Tuesday. The company’s 50 day moving average price is $136.22 and its 200-day moving average price is $125.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.51 and a current ratio of 2.67. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The company has a market capitalization of $9.74 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.30 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $2.33 EPS. Equities analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 31.22%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays raised their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. UBS Group upped their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Oppenheimer increased their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

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.