Crossmark Global Holdings Inc. Sells 87,914 Shares of Ingredion Incorporated (NYSE:INGR)

Crossmark Global Holdings Inc. lessened its holdings in Ingredion Incorporated (NYSE:INGR) by 94.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,567 shares of the company’s stock after selling 87,914 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ingredion were worth $765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its holdings in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion in the second quarter valued at about $33,000. Family Firm Inc. bought a new stake in Ingredion during the second quarter worth about $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ingredion during the second quarter worth approximately $36,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of Ingredion stock opened at $140.79 on Friday. The firm has a fifty day moving average of $137.44 and a two-hundred day moving average of $126.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.29 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $100.90 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating 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 quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. As a group, equities research analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.27%. 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 is presently 31.22%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This represents a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,056 shares of company stock worth $4,121,736. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

INGR has been the topic of several recent analyst reports. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. BMO Capital Markets increased their target price on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. UBS Group lifted their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Oppenheimer boosted their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average price target of $155.17.

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.