Keene & Associates Inc. Has $4.22 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Keene & Associates Inc. reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,724 shares of the company’s stock after selling 367 shares during the period. Ingredion accounts for about 3.2% of Keene & Associates Inc.’s investment portfolio, making the stock its 5th largest holding. Keene & Associates Inc.’s holdings in Ingredion were worth $4,222,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its position in 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 acquiring an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion in the second quarter worth about $33,000. Family Firm Inc. bought a new stake in shares of Ingredion during the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ingredion during the second quarter valued at $36,000. 85.27% of the stock is owned by institutional investors.

Insider Transactions at Ingredion

In other news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction that occurred 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 owns 15,906 shares in the company, valued at $1,988,250. This 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 available through this link. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James P. Zallie sold 1,300 shares of the 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. 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 ninety days, insiders have sold 26,551 shares of company stock worth $3,550,084. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. BMO Capital Markets raised their price target on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Oppenheimer lifted their target price on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday. Finally, UBS Group lifted their price objective on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.83.

Ingredion Stock Performance

NYSE INGR opened at $135.96 on Thursday. The company has a market cap of $8.93 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.22 and a beta of 0.72. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $138.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The stock has a 50-day moving average of $134.43 and a two-hundred day moving average of $123.13.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 earnings per share. As a group, analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is currently 32.06%.

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.