1,544 Shares in Ingredion Incorporated (NYSE:INGR) Bought by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC bought a new stake in Ingredion Incorporated (NYSE:INGR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,544 shares of the company’s stock, valued at approximately $209,000.

A number of other large investors have also added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ingredion in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion in the second quarter worth $33,000. Family Firm Inc. purchased a new position in Ingredion in the second quarter worth $36,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ingredion during the second quarter worth $36,000. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. 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 note on Wednesday, August 7th. Oppenheimer boosted their target price on shares of Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. UBS Group increased their target price on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.83.

Ingredion Trading Up 0.8 %

INGR stock opened at $133.77 on Friday. The business’s 50-day moving average is $134.74 and its 200 day moving average is $124.22. Ingredion Incorporated has a 12-month low of $93.26 and a 12-month high of $138.37. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.21 and a beta of 0.72. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. The firm 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 revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.32 earnings per share. On average, sell-side analysts anticipate that Ingredion Incorporated will post 10.05 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a dividend of $0.80 per share. 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. This represents a $3.20 dividend on an annualized basis and a yield of 2.39%. Ingredion’s payout ratio is presently 32.72%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 371 shares of the firm’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 directly owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,356 shares of company stock worth $3,400,709. 1.80% of the stock is owned by insiders.

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.