Brookstone Capital Management Makes New $213,000 Investment in Ingredion Incorporated (NYSE:INGR)

Brookstone Capital Management bought a new stake in Ingredion Incorporated (NYSE:INGR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,549 shares of the company’s stock, valued at approximately $213,000.

Several other large investors have also modified their holdings of INGR. Vanguard Group Inc. increased its position in Ingredion by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock worth $843,617,000 after buying an additional 427,496 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after acquiring an additional 125,543 shares during the period. Pacer Advisors Inc. raised its position in Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after purchasing an additional 846,967 shares during the last quarter. Cooke & Bieler LP boosted its stake in Ingredion by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock worth $116,765,000 after purchasing an additional 27,087 shares during the period. Finally, Equity Investment Corp grew its position in Ingredion by 2.8% during the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after purchasing an additional 26,526 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Up 0.5 %

Ingredion stock opened at $135.07 on Wednesday. The stock’s 50 day moving average price is $133.69 and its 200 day moving average price is $122.37. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $138.37. The company has a market cap of $8.87 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.32 EPS. On average, sell-side analysts predict that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.37%. Ingredion’s dividend payout ratio (DPR) is 32.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $122.00 to $145.00 in a research note on Friday, August 9th. UBS Group boosted their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Oppenheimer lifted their price objective on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets upped their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.33.

Insider Activity

In related news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,595.90. 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 accessible through the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. 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 three months, insiders sold 26,551 shares of company stock worth $3,550,084. Company insiders own 1.80% of the company’s stock.

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.