Ingredion Incorporated (NYSE:INGR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,982 shares of the company’s stock after selling 477 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ingredion were worth $1,833,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Conscious Wealth Investments LLC increased its holdings in shares of Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after purchasing an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Ingredion by 102.6% in the first 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 last quarter. Signaturefd LLC increased its holdings in shares of Ingredion by 10.4% in the second quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock valued at $170,000 after purchasing an additional 140 shares during the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Ingredion by 8.1% in the second quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock valued at $242,000 after purchasing an additional 158 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Ingredion by 4.0% in the first quarter. William Blair Investment Management LLC now owns 4,628 shares of the company’s stock valued at $541,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 22,550 shares of Ingredion 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 completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO James P. Zallie sold 22,550 shares of Ingredion 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 completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction on 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 transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,595.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,046 shares of company stock worth $3,482,626. Company insiders own 1.80% of the company’s stock.

Ingredion Trading Down 0.0 %

INGR opened at $135.98 on Thursday. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $138.37. The business has a fifty day simple moving average of $131.63 and a 200-day simple moving average of $121.24. The firm has a market cap of $8.93 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.23 and a beta of 0.73. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the business posted $2.32 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. On average, equities analysts expect that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. Ingredion’s dividend payout ratio (DPR) is 32.06%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets raised their target price 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 raised their target price on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. Finally, UBS Group raised 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus price target 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.