First Trust Direct Indexing L.P. Purchases Shares of 1,580 Ingredion Incorporated (NYSE:INGR)

First Trust Direct Indexing L.P. purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,580 shares of the company’s stock, valued at approximately $217,000.

A number of other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after buying an additional 125,543 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after buying an additional 846,967 shares in the last quarter. Cooke & Bieler LP increased its position in shares of Ingredion by 2.7% in the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after buying an additional 27,087 shares in the last quarter. Equity Investment Corp increased its position 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 buying an additional 26,526 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Ingredion by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock valued at $87,125,000 after buying an additional 17,062 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of the business’s 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 sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. 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 valued at $3,400,709 in the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on INGR. BMO Capital Markets boosted their price target on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Oppenheimer boosted their price target on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group boosted their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.83.

Ingredion Stock Up 15.5 %

Shares of NYSE:INGR opened at $154.78 on Wednesday. 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 business has a fifty day moving average of $135.21 and a two-hundred day moving average of $124.75. The stock has a market cap of $10.07 billion, a P/E ratio of 15.83, a PEG ratio of 1.21 and a beta of 0.73. Ingredion Incorporated has a 52-week low of $95.07 and a 52-week high of $154.87.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.32 EPS. On average, research analysts expect that Ingredion Incorporated will post 10.05 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio is 32.72%.

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.