Perigon Wealth Management LLC Has $210,000 Holdings in Ingredion Incorporated (NYSE:INGR)

Perigon Wealth Management LLC lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,564 shares of the company’s stock after selling 176 shares during the period. Perigon Wealth Management LLC’s holdings in Ingredion were worth $210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hennessy Advisors Inc. purchased a new position in Ingredion during the 4th quarter valued at about $58,642,000. Pacer Advisors Inc. grew its stake in shares of Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after buying an additional 268,389 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after buying an additional 174,495 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Ingredion in the 3rd quarter worth approximately $17,094,000. Finally, Franklin Resources Inc. lifted its holdings in Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after purchasing an additional 83,708 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Down 1.2 %

INGR opened at $134.79 on Tuesday. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.11 and a beta of 0.74. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a twelve month low of $107.40 and a twelve month high of $155.44. The company has a 50-day simple moving average of $139.51 and a 200 day simple moving average of $135.94.

Ingredion (NYSE:INGR) last released its quarterly earnings data 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. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company earned $2.33 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. Analysts predict that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.37%. Ingredion’s dividend payout ratio is currently 31.22%.

Insiders Place Their Bets

In related news, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,692 shares of company stock valued at $9,634,868. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. Oppenheimer upped their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets increased their target price on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.17.

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.