Atria Investments Inc Increases Holdings in Ingredion Incorporated (NYSE:INGR)

Atria Investments Inc boosted its stake in Ingredion Incorporated (NYSE:INGR) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 7,028 shares of the company’s stock after acquiring an additional 323 shares during the quarter. Atria Investments Inc’s holdings in Ingredion were worth $966,000 at the end of the most recent reporting period.

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

Ingredion Trading Down 5.6 %

INGR opened at $140.83 on Monday. Ingredion Incorporated has a one year low of $100.90 and a one year high of $155.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The business has a 50 day simple moving average of $137.55 and a two-hundred day simple moving average of $126.61. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.21 and a beta of 0.73.

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

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.27%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,056 shares of company stock worth $4,121,736 over the last 90 days. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.