Ingredion Incorporated (NYSE:INGR) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 48.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,325 shares of the company’s stock after buying an additional 432 shares during the period. Assetmark Inc.’s holdings in Ingredion were worth $182,000 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. Janus Henderson Group PLC grew its holdings in shares of Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after buying an additional 47,225 shares during the last quarter. Point72 DIFC Ltd lifted its position in Ingredion by 2,629.3% during the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after acquiring an additional 3,681 shares during the period. AQR Capital Management LLC grew its stake in Ingredion by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock valued at $36,902,000 after purchasing an additional 115,147 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in Ingredion during the 2nd quarter valued at about $528,000. Finally, Waverly Advisors LLC acquired a new position in shares of Ingredion in the first quarter valued at about $5,301,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Ratings Changes

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

Ingredion Trading Down 5.6 %

INGR stock opened at $140.83 on Friday. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.18 billion, a P/E ratio of 13.74, a PEG ratio of 1.29 and a beta of 0.73. The company’s 50-day simple moving average is $137.55 and its 200-day simple moving average is $126.53.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion for 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%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 earnings per share. As a group, equities analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is presently 31.22%.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,056 shares of company stock valued at $4,121,736 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.