Ingredion Incorporated (NYSE:INGR) Stock Position Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,953 shares of the company’s stock after acquiring an additional 510 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ingredion were worth $3,841,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ingredion by 4.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,452 shares of the company’s stock worth $1,221,000 after buying an additional 487 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ingredion in the first quarter worth $268,000. State of Michigan Retirement System boosted its position in shares of Ingredion by 1.9% in the first quarter. State of Michigan Retirement System now owns 15,988 shares of the company’s stock worth $1,868,000 after buying an additional 300 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Ingredion by 21.9% in the first quarter. Commonwealth Equity Services LLC now owns 7,823 shares of the company’s stock worth $914,000 after buying an additional 1,403 shares during the period. Finally, SpiderRock Advisors LLC acquired a new stake in shares of Ingredion in the first quarter worth $308,000. 85.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction dated 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 transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The trade was 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. In other news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. The trade was 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 22,550 shares of Ingredion stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,356 shares of company stock worth $3,400,709 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Price Performance

NYSE INGR opened at $133.66 on Thursday. Ingredion Incorporated has a fifty-two week low of $91.60 and a fifty-two week high of $138.37. The stock’s 50-day moving average is $134.68 and its two-hundred day moving average is $123.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The firm has a market cap of $8.77 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating 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 company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $2.32 earnings per share. The business’s revenue was down 9.2% compared to the same quarter last year. On average, 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 was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.80 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.39%. The ex-dividend date was Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is 32.06%.

Analyst Upgrades and Downgrades

INGR has been the subject of several recent analyst reports. Oppenheimer raised their target price on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. UBS Group lifted their price objective on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price objective on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $138.83.

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.