Ingredion Incorporated (NYSE:INGR) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 18.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,088 shares of the company’s stock after selling 909 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Ingredion were worth $562,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after purchasing an additional 846,967 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Ingredion by 177.8% during the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock valued at $45,491,000 after buying an additional 253,949 shares during the period. International Assets Investment Management LLC boosted its position in Ingredion by 55,219.9% during the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after acquiring an additional 174,495 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after acquiring an additional 125,543 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Ingredion by 43.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock valued at $47,303,000 after acquiring an additional 123,406 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Performance

Ingredion stock opened at $133.39 on Wednesday. The stock’s 50-day moving average is $134.65 and its 200-day moving average is $123.67. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. Ingredion Incorporated has a 12 month low of $91.60 and a 12 month high of $138.37.

Ingredion (NYSE:INGR) last released 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 company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 earnings per share. Equities analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.06%.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the 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 completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 371 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,356 shares of company stock valued at $3,400,709 over the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on INGR shares. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer upped their price objective on shares of Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Barclays raised shares of 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 report on Friday, August 9th. UBS Group boosted their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets increased their price target on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. 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, Ingredion presently has an average rating of “Moderate Buy” and an average target price of $138.83.

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.