Cetera Investment Advisers Has $1.20 Million Position in Ingredion Incorporated (NYSE:INGR)

Cetera Investment Advisers trimmed its position in Ingredion Incorporated (NYSE:INGR) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,468 shares of the company’s stock after selling 583 shares during the period. Cetera Investment Advisers’ holdings in Ingredion were worth $1,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of INGR. Point72 Asset Management L.P. bought a new stake in Ingredion during the 2nd quarter worth approximately $2,966,000. Brandes Investment Partners LP increased its position in shares of Ingredion by 21.3% during the second quarter. Brandes Investment Partners LP now owns 431,339 shares of the company’s stock worth $49,477,000 after acquiring an additional 75,754 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Ingredion during the second quarter worth $432,000. Sunbelt Securities Inc. lifted its position in Ingredion by 26.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,594 shares of the company’s stock valued at $183,000 after acquiring an additional 331 shares in the last quarter. Finally, Creative Planning boosted its stake 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 purchasing an additional 328 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

INGR stock opened at $135.50 on Thursday. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.90 billion, a PE ratio of 13.58, a P/E/G ratio of 1.22 and a beta of 0.72. The business has a 50 day moving average of $133.88 and a 200-day moving average of $122.46. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $138.37.

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

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.36%. 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%.

Analyst Ratings Changes

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

Insider Transactions at Ingredion

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,551 shares of company stock valued at $3,550,084 in the last quarter. Insiders own 1.80% of the company’s stock.

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.