Nisa Investment Advisors LLC Has $5.88 Million Stake in Ingredion Incorporated (NYSE:INGR)

Nisa Investment Advisors LLC reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 42,789 shares of the company’s stock after selling 450 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Ingredion were worth $5,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion in the second quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion during the 2nd quarter worth approximately $33,000. Family Firm Inc. acquired a new stake in shares of Ingredion during the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ingredion during the second quarter worth approximately $36,000. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Down 0.7 %

Ingredion stock opened at $132.76 on Friday. The company has a 50 day moving average of $134.70 and a 200-day moving average of $123.91. 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 twelve month low of $91.60 and a twelve month high of $138.37. The stock has a market capitalization of $8.72 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the firm earned $2.32 earnings per share. Ingredion’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.41%. Ingredion’s dividend payout ratio (DPR) is 32.06%.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction 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 sale, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction 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 approximately $7,046,374.20. This trade 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 Ingredion stock in a transaction that occurred on Thursday, October 10th. The stock was 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 $6,967,399.22. This represents 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 valued at $3,400,709 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group increased 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. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $122.00 to $145.00 in a research note on Friday, August 9th. Oppenheimer boosted 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. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their price objective on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and a consensus 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.