Ingredion Incorporated (NYSE:INGR) Position Increased by Sunbelt Securities Inc.

Sunbelt Securities Inc. raised its stake in Ingredion Incorporated (NYSE:INGR) by 26.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,594 shares of the company’s stock after buying an additional 331 shares during the period. Sunbelt Securities Inc.’s holdings in Ingredion were worth $183,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Ingredion by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock worth $843,617,000 after acquiring an additional 427,496 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after purchasing an additional 125,543 shares during the period. Pacer Advisors Inc. grew its position in Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after purchasing an additional 846,967 shares in the last quarter. Cooke & Bieler LP raised its stake in Ingredion by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after purchasing an additional 27,087 shares during the period. Finally, Equity Investment Corp lifted its holdings in shares of Ingredion by 2.8% in the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after purchasing an additional 26,526 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of INGR opened at $135.98 on Thursday. 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 firm has a market cap of $8.93 billion, a PE ratio of 13.63, a PEG ratio of 1.23 and a beta of 0.73. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $138.37. The firm’s 50 day moving average price is $131.63 and its 200 day moving average price is $121.24.

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

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.35%. The ex-dividend date is Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is 32.06%.

Insider Activity

In related news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The disclosure for this sale can be found here. Insiders have sold a total of 26,046 shares of company stock valued at $3,482,626 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INGR has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research 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. Oppenheimer upped their price objective on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $122.00 to $145.00 in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently 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.