Ingredion Incorporated (NYSE:INGR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Ingredion Incorporated (NYSE:INGR) by 10.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,137 shares of the company’s stock after selling 2,377 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ingredion were worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in INGR. Atria Investments Inc boosted its holdings in shares of Ingredion by 4.8% in the 3rd quarter. Atria Investments Inc now owns 7,028 shares of the company’s stock valued at $966,000 after purchasing an additional 323 shares during the last quarter. Assetmark Inc. boosted its holdings in Ingredion by 48.4% in the third quarter. Assetmark Inc. now owns 1,325 shares of the company’s stock valued at $182,000 after acquiring an additional 432 shares during the last quarter. Principal Financial Group Inc. grew its position in Ingredion by 1.5% during the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after acquiring an additional 10,812 shares during the period. Foster & Motley Inc. increased its stake in Ingredion by 7.8% during the third quarter. Foster & Motley Inc. now owns 11,509 shares of the company’s stock worth $1,582,000 after acquiring an additional 832 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Ingredion by 1.1% in the 3rd quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock worth $1,728,000 after purchasing an additional 133 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Down 0.2 %

Shares of NYSE INGR opened at $149.95 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a 1 year low of $100.90 and a 1 year high of $155.44. The stock’s 50-day simple moving average is $137.15 and its 200-day simple moving average is $126.19. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.29 and a beta of 0.73.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $2.33 EPS. Ingredion’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities analysts anticipate that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal 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. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.13%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is presently 31.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INGR. BMO Capital Markets increased their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. UBS Group increased their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Oppenheimer upped their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.00.

Insider Activity

In related news, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the 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 sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction dated Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $4,454,105.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,056 shares of company stock worth $4,121,736. 1.80% of the stock is currently owned by corporate insiders.

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.