LSV Asset Management Trims Holdings in Ingredion Incorporated (NYSE:INGR)

LSV Asset Management decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 1.0% in the 2nd quarter, Holdings Channel reports. The firm owned 2,166,742 shares of the company’s stock after selling 22,350 shares during the period. LSV Asset Management’s holdings in Ingredion were worth $248,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in Ingredion by 177.8% in the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock valued at $45,491,000 after purchasing an additional 253,949 shares during the last quarter. Gallacher Capital Management LLC raised its position in Ingredion by 181.0% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,446 shares of the company’s stock valued at $625,000 after purchasing an additional 3,508 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Ingredion in the 2nd quarter valued at $516,000. Foundry Partners LLC raised its position in Ingredion by 21.3% in the 2nd quarter. Foundry Partners LLC now owns 2,973 shares of the company’s stock valued at $341,000 after purchasing an additional 523 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Ingredion by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 18,354 shares of the company’s stock valued at $2,105,000 after purchasing an additional 438 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on INGR shares. UBS Group boosted their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted 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 raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $122.00 to $145.00 in a research note on Friday, August 9th. Oppenheimer boosted their price objective on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and a consensus target price of $137.33.

Ingredion Price Performance

Shares of NYSE:INGR traded up $0.31 on Friday, reaching $135.23. 285,678 shares of the company were exchanged, compared to its average volume of 381,274. 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 Incorporated has a 1-year low of $89.54 and a 1-year high of $136.42. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. The company has a 50-day moving average of $124.37 and a 200-day moving average of $118.78.

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

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a $0.80 dividend. The ex-dividend date is 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 dividend yield of 2.37%. Ingredion’s payout ratio is currently 32.06%.

Insider Buying and Selling

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 value of $3,024,857.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 value of $3,024,857.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The disclosure for this sale can be found here. Insiders have sold 26,045 shares of company stock worth $3,482,491 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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.