Los Angeles Capital Management LLC Makes New $516,000 Investment in Ingredion Incorporated (NYSE:INGR)

Los Angeles Capital Management LLC purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,499 shares of the company’s stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion in the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp purchased a new stake in Ingredion during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Ingredion in the 2nd quarter worth about $36,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ingredion during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO James P. Zallie sold 22,550 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,070.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,045 shares of company stock valued at $3,482,491. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on INGR shares. UBS Group upped their target price 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 upped their price objective on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer lifted their price objective on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.33.

Ingredion Trading Down 0.2 %

Shares of INGR opened at $134.60 on Friday. The stock has a market capitalization of $8.76 billion, a P/E ratio of 13.49, a PEG ratio of 1.23 and a beta of 0.73. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $137.21. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $126.58 and a two-hundred day simple moving average of $119.48.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (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 analysts’ expectations of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the firm earned $2.32 earnings per share. On average, research analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.38%. Ingredion’s dividend payout ratio (DPR) is presently 31.26%.

About Ingredion

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.