Stifel Financial Corp Decreases Stock Position in Ingredion Incorporated (NYSE:INGR)

Stifel Financial Corp decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 26.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,341 shares of the company’s stock after selling 8,040 shares during the period. Stifel Financial Corp’s holdings in Ingredion were worth $3,070,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its position in Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after purchasing an additional 85 shares during the last quarter. Seelaus Asset Management LLC grew its holdings in shares of Ingredion by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after buying an additional 105 shares during the last quarter. Conscious Wealth Investments LLC grew its holdings in shares of Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after buying an additional 106 shares during the last quarter. Delphi Management Inc. MA increased its position in shares of Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after acquiring an additional 123 shares during the period. Finally, QRG Capital Management Inc. raised its stake in Ingredion by 1.1% in the 3rd quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock worth $1,728,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In other news, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,198 shares of company stock worth $9,702,461 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INGR shares. UBS Group lifted their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Oppenheimer lifted 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. Stephens upgraded shares of Ingredion to a “hold” rating in a research note on Monday, December 2nd. BMO Capital Markets boosted their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Finally, Barclays increased 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Stock Performance

Shares of NYSE INGR opened at $142.16 on Wednesday. The company has a market capitalization of $9.26 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The company’s fifty day moving average price is $141.76 and its 200 day moving average price is $130.80. Ingredion Incorporated has a 1 year low of $105.78 and a 1 year high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $2.33 EPS. On average, research analysts predict that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion’s payout ratio is 31.22%.

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.