Oppenheimer & Co. Inc. Acquires 3,373 Shares of Ingredion Incorporated (NYSE:INGR)

Oppenheimer & Co. Inc. raised its stake in Ingredion Incorporated (NYSE:INGR) by 19.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,726 shares of the company’s stock after acquiring an additional 3,373 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ingredion were worth $2,377,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in Ingredion in the 4th quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion during the second quarter worth $26,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 118 shares during the last quarter. Family Firm Inc. acquired a new stake in Ingredion in the second quarter valued at $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion during the 2nd quarter worth $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,045 shares of company stock worth $3,482,491. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upped their price objective on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. UBS Group upped their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Oppenheimer lifted their price objective on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $122.00 to $145.00 in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

Ingredion Stock Up 0.1 %

INGR stock opened at $134.70 on Tuesday. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21. The stock has a fifty day moving average of $127.02 and a 200-day moving average of $119.65. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52.

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

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.38%. Ingredion’s dividend payout ratio (DPR) is currently 31.26%.

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.