Ingredion Incorporated (NYSE:INGR) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its position in Ingredion Incorporated (NYSE:INGR) by 6.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,003 shares of the company’s stock after purchasing an additional 175 shares during the period. Pinnacle Associates Ltd.’s holdings in Ingredion were worth $413,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. First Trust Direct Indexing L.P. acquired a new position in Ingredion during the third quarter valued at $217,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of Ingredion by 21,385.2% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 5,801 shares of the company’s stock valued at $797,000 after buying an additional 5,774 shares during the period. Concord Wealth Partners boosted its stake in shares of Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after buying an additional 223 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Ingredion by 1.9% during the third quarter. State of Alaska Department of Revenue now owns 27,953 shares of the company’s stock worth $3,841,000 after acquiring an additional 510 shares during the period. Finally, Sageworth Trust Co purchased a new position in Ingredion during the third quarter valued at approximately $364,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INGR has been the topic of several recent research reports. Oppenheimer raised their price objective on shares of Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. UBS Group lifted their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets upped their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $122.00 to $145.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.83.

Ingredion Trading Up 0.8 %

Shares of Ingredion stock opened at $133.77 on Monday. Ingredion Incorporated has a twelve month low of $93.26 and a twelve month high of $138.37. The firm’s 50-day moving average price is $134.74 and its 200 day moving average price is $124.31. 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 has a market capitalization of $8.70 billion, a PE ratio of 13.68, a P/E/G ratio of 1.20 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $2.32 earnings per share. The business’s revenue was down 9.2% on a year-over-year basis. On average, sell-side analysts predict that Ingredion Incorporated will post 10.05 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.80 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is currently 32.72%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingredion news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,356 shares of company stock worth $3,400,709. 1.80% of the stock is owned by insiders.

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.