Focus Partners Advisor Solutions LLC Buys 150 Shares of Ingredion Incorporated $INGR

Focus Partners Advisor Solutions LLC boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,084 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Ingredion were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in INGR. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Ingredion during the first quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Ameritas Advisory Services LLC acquired a new position in Ingredion in the second quarter valued at approximately $40,000. Costello Asset Management INC acquired a new position in Ingredion in the first quarter valued at approximately $41,000. Finally, SouthState Corp purchased a new stake in shares of Ingredion in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Up 0.3%

INGR opened at $115.55 on Friday. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74. Ingredion Incorporated has a 52 week low of $114.26 and a 52 week high of $155.44. The business’s 50 day moving average is $122.81 and its two-hundred day moving average is $130.11. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.87 earnings per share. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were given a $0.82 dividend. The ex-dividend date was Wednesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a yield of 2.8%. Ingredion’s payout ratio is 32.00%.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the sale, the senior vice president owned 31,171 shares in the company, valued at $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total value of $4,591,031.24. Following the transaction, the chief executive officer directly owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Oppenheimer set a $136.00 price target on Ingredion in a report on Wednesday, October 22nd. Wall Street Zen cut Ingredion from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research cut Ingredion from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings cut Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $143.40.

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.