Ingredion Incorporated (NYSE:INGR) Stock Position Reduced by Keene & Associates Inc.

Keene & Associates Inc. trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,091 shares of the company’s stock after selling 456 shares during the period. Ingredion accounts for about 2.9% of Keene & Associates Inc.’s holdings, making the stock its 8th largest holding. Keene & Associates Inc.’s holdings in Ingredion were worth $3,566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Ingredion by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock valued at $843,617,000 after buying an additional 427,496 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Ingredion by 2.7% during the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock worth $116,765,000 after purchasing an additional 27,087 shares during the last quarter. Equity Investment Corp increased its position in shares of Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after purchasing an additional 26,526 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ingredion by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock valued at $87,125,000 after purchasing an additional 17,062 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Ingredion in the 4th quarter valued at about $82,272,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Trading Down 0.2 %

NYSE INGR opened at $134.60 on Monday. 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 stock has a market capitalization of $8.76 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.23 and a beta of 0.73. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $137.21. The firm has a 50-day moving average price of $126.58 and a 200 day moving average price of $119.53.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating 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 business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $2.32 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities research analysts expect that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.38%. Ingredion’s dividend payout ratio is 31.26%.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction 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 in the company, valued at $7,040,595.90. The disclosure for this sale can be found here. Insiders have sold a total of 26,045 shares of company stock valued at $3,482,491 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INGR has been the subject of several research analyst reports. Oppenheimer increased their price objective on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price objective on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. Finally, UBS Group boosted their price target on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.33.

Ingredion 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.