Janney Montgomery Scott LLC Has $2.59 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Janney Montgomery Scott LLC lessened its stake in Ingredion Incorporated (NYSE:INGR) by 4.1% in the first quarter, Holdings Channel reports. The firm owned 22,147 shares of the company’s stock after selling 955 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ingredion were worth $2,588,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new stake in shares of Ingredion during the fourth quarter worth about $25,000. Blue Trust Inc. grew its holdings in shares of Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Ingredion by 59.8% during the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after purchasing an additional 159 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Ingredion by 54.0% during the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock worth $72,000 after purchasing an additional 234 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its holdings in shares of Ingredion by 29,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 879 shares of the company’s stock worth $95,000 after purchasing an additional 876 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the transaction, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James P. Zallie sold 27,500 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the completion of the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at approximately $6,073,642.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James D. Gray sold 8,490 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the sale, the chief financial officer now directly owns 42,833 shares of the company’s stock, valued at $5,214,489.42. The disclosure for this sale can be found here. Insiders have sold 38,359 shares of company stock valued at $4,515,644 over the last ninety days. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday. BMO Capital Markets increased their price target on Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $127.17.

Ingredion Price Performance

Ingredion stock opened at $114.99 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $122.18. The stock’s 50 day moving average price is $115.97 and its two-hundred day moving average price is $113.85. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.06 and a beta of 0.72.

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

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, July 1st. Ingredion’s payout ratio is 31.26%.

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.