Ingredion Incorporated (NYSE:INGR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its position in Ingredion Incorporated (NYSE:INGR) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,622,099 shares of the company’s stock after selling 141,913 shares during the period. Pacer Advisors Inc.’s holdings in Ingredion were worth $222,925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion during the second quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ingredion during the second quarter valued at $33,000. Prospera Private Wealth LLC purchased a new position in shares of Ingredion during the third quarter valued at $41,000. Finally, Family Firm Inc. purchased a new position in Ingredion in the second quarter valued at about $36,000. Institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s 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 sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,595.90. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,178 shares of company stock worth $4,982,857. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group boosted their target price on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer upped their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Stock Up 0.3 %

Shares of Ingredion stock opened at $142.37 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12 month low of $100.90 and a 12 month high of $155.44. The business has a fifty day simple moving average of $137.90 and a 200 day simple moving average of $127.17. The stock has a market cap of $9.28 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.22 and a beta of 0.73.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. Research analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The firm 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. 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 annualized dividend and a yield of 2.25%. Ingredion’s payout ratio is currently 31.22%.

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.