Axa S.A. Has $1.56 Million Position in Ingredion Incorporated (NYSE:INGR)

Axa S.A. lessened its holdings in Ingredion Incorporated (NYSE:INGR) by 34.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,635 shares of the company’s stock after selling 7,099 shares during the period. Axa S.A.’s holdings in Ingredion were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new stake in Ingredion in the fourth quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ingredion during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion in the 2nd quarter worth approximately $33,000. Finally, Family Firm Inc. bought a new position in shares of Ingredion during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of INGR stock opened at $137.39 on Tuesday. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $138.37. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $130.57 and its 200-day moving average is $120.83. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last posted its quarterly earnings data 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 firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 EPS. Sell-side analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.80 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, October 1st. Ingredion’s payout ratio is currently 32.06%.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,045 shares of company stock worth $3,482,491. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on INGR. BMO Capital Markets increased their price objective on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer lifted their price target on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. UBS Group lifted their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $137.33.

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.