Hennion & Walsh Asset Management Inc. Acquires Shares of 2,290 Ingredion Incorporated (NYSE:INGR)

Hennion & Walsh Asset Management Inc. acquired a new stake in Ingredion Incorporated (NYSE:INGR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,290 shares of the company’s stock, valued at approximately $268,000.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in Ingredion in the 4th quarter valued at $25,000. Blue Trust Inc. increased its stake in Ingredion by 40.2% in the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after buying an additional 103 shares during the period. National Bank of Canada FI increased its stake in Ingredion by 59.8% in the 4th quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after buying an additional 159 shares during the period. Quadrant Capital Group LLC increased its stake in Ingredion by 54.0% in the 4th quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock valued at $72,000 after buying an additional 234 shares during the period. Finally, TFO Wealth Partners LLC increased its stake in Ingredion by 29,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 879 shares of the company’s stock valued at $95,000 after buying an additional 876 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.36, for a total value of $3,199,900.00. Following the transaction, the chief executive officer now directly owns 52,197 shares in the company, valued at approximately $6,073,642.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the transaction, the senior vice president now directly owns 28,848 shares in the company, valued at approximately $3,436,085.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the completion of the transaction, the chief executive officer now owns 52,197 shares in the company, valued at $6,073,642.92. The disclosure for this sale can be found here. Insiders have sold 38,359 shares of company stock worth $4,515,644 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Ingredion stock opened at $112.95 on Friday. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $122.18. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $116.10 and its 200 day simple moving average is $113.61. The firm has a market capitalization of $7.42 billion, a PE ratio of 11.32, a P/E/G ratio of 1.06 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, hitting the consensus estimate of $2.08. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the firm earned $2.80 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities research analysts predict that Ingredion Incorporated will post 9.7 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 1st will be given a $0.78 dividend. The ex-dividend date is Monday, July 1st. This represents a $3.12 annualized dividend and a dividend yield of 2.76%. Ingredion’s dividend payout ratio is presently 31.26%.

Analysts Set New Price Targets

Several brokerages have commented on INGR. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 13th. BMO Capital Markets boosted their target price on shares of Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.17.

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.