SG Americas Securities LLC Has $524,000 Stock Position in Ingredion Incorporated (NYSE:INGR)

SG Americas Securities LLC raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 222.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,810 shares of the company’s stock after purchasing an additional 2,629 shares during the period. SG Americas Securities LLC’s holdings in Ingredion were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Insight Wealth Strategies LLC raised its stake in shares of Ingredion by 230.9% during the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after buying an additional 9,577 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Ingredion by 154.0% during the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after acquiring an additional 47,225 shares during the period. Sei Investments Co. raised its position in shares of Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after acquiring an additional 21,619 shares during the last quarter. BNP Paribas acquired a new position in shares of Ingredion in the 1st quarter valued at $1,154,000. Finally, Empowered Funds LLC bought a new position in shares of Ingredion in the 1st quarter worth $1,812,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ingredion Stock Performance

Shares of INGR stock opened at $135.07 on Wednesday. The company has a market capitalization of $8.87 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $138.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The company’s 50 day moving average price is $133.69 and its two-hundred day moving average price is $122.37.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.32 EPS. On average, analysts expect that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

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

Insider Activity at Ingredion

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the company’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 completion of the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,551 shares of company stock valued at $3,550,084. 1.80% of the stock is owned by insiders.

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.