Means Investment CO. Inc. Invests $204,000 in Ingredion Incorporated (NYSE:INGR)

Means Investment CO. Inc. acquired a new stake in Ingredion Incorporated (NYSE:INGR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,488 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC increased its position in Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after buying an additional 47,225 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after acquiring an additional 21,619 shares during the last quarter. BNP Paribas bought a new stake in Ingredion in the 1st quarter valued at $1,154,000. Empowered Funds LLC acquired a new stake in Ingredion during the 1st quarter valued at $1,812,000. Finally, Point72 DIFC Ltd boosted its position in Ingredion by 2,629.3% during the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after purchasing an additional 3,681 shares during the period. 85.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Ingredion Stock Performance

Shares of NYSE:INGR opened at $134.26 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $138.37. The company’s 50 day moving average price is $134.12 and its two-hundred day moving average price is $122.77. The firm has a market cap of $8.81 billion, a PE ratio of 13.45, a PEG ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its quarterly 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 for 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 firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.32 earnings per share. Equities research analysts predict that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is 32.06%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $7,046,374.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ingredion news, 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 value of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 on Monday, August 26th. The stock was sold at an average price of $134.02, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,551 shares of company stock valued at $3,550,084 over the last quarter. 1.80% of the stock is owned by company insiders.

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.