Brandes Investment Partners LP Purchases 75,754 Shares of Ingredion Incorporated (NYSE:INGR)

Brandes Investment Partners LP raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 21.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 431,339 shares of the company’s stock after purchasing an additional 75,754 shares during the quarter. Brandes Investment Partners LP owned 0.66% of Ingredion worth $49,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of Ingredion in the 2nd quarter worth $432,000. Sunbelt Securities Inc. increased its holdings in Ingredion by 26.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,594 shares of the company’s stock worth $183,000 after buying an additional 331 shares in the last quarter. Creative Planning raised its position in Ingredion by 3.2% in the 2nd quarter. Creative Planning now owns 10,619 shares of the company’s stock worth $1,218,000 after buying an additional 328 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Ingredion by 9.1% during the 2nd quarter. Mackenzie Financial Corp now owns 11,218 shares of the company’s stock valued at $1,287,000 after acquiring an additional 934 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Ingredion by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,820 shares of the company’s stock valued at $13,973,000 after acquiring an additional 2,376 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In related news, 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 sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction dated 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 directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,045 shares of company stock worth $3,482,491. Insiders own 1.80% of the company’s stock.

Ingredion Trading Down 0.1 %

Shares of Ingredion stock opened at $137.37 on Monday. The company has a market capitalization of $9.02 billion, a P/E ratio of 13.76, a P/E/G 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. The company has a fifty day moving average of $130.57 and a 200 day moving average of $120.81. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $2.32 EPS. The firm’s revenue was down 9.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced 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 represents a $3.20 annualized dividend and a yield of 2.33%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INGR shares. BMO Capital Markets increased 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. Oppenheimer raised their price objective on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. UBS Group boosted their price objective 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. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

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.