224 Shares in Ingredion Incorporated (NYSE:INGR) Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 224 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp acquired a new stake in Ingredion during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased 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 buying an additional 118 shares during the period. National Bank of Canada FI increased its stake in shares of Ingredion by 59.8% in the 4th quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after buying an additional 159 shares during the period. LRI Investments LLC acquired a new stake in shares of Ingredion during the first quarter worth $65,000. Finally, GAMMA Investing LLC grew its stake in shares of Ingredion by 127.3% during the second quarter. GAMMA Investing LLC now owns 600 shares of the company’s stock worth $69,000 after purchasing an additional 336 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INGR shares. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Oppenheimer boosted their target price on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Ingredion Stock Up 1.3 %

Shares of NYSE:INGR traded up $1.70 during mid-day trading on Wednesday, reaching $129.65. 58,128 shares of the stock were exchanged, compared to its average volume of 390,042. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.51 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.16 and a beta of 0.72. Ingredion Incorporated has a one year low of $89.54 and a one year high of $130.66. The stock’s 50 day simple moving average is $116.75 and its 200-day simple moving average is $115.35.

Ingredion (NYSE:INGR) last issued its 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. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company posted $2.32 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, equities research analysts predict that Ingredion Incorporated will post 9.7 EPS for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 1st were issued a dividend of $0.78 per share. The ex-dividend date was Monday, July 1st. This represents a $3.12 annualized dividend and a yield of 2.41%. Ingredion’s payout ratio is currently 31.26%.

Insider Buying and Selling

In other news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.36, for a total value of $3,199,900.00. Following the sale, the chief executive officer now owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,554 shares of company stock valued at $4,665,019. Insiders own 1.80% of the company’s stock.

About Ingredion

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.