Ingredion Incorporated (NYSE:INGR) Position Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Ingredion Incorporated (NYSE:INGR) by 10.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,137 shares of the company’s stock after selling 2,377 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ingredion were worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after purchasing an additional 47,225 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Ingredion by 23.4% in the first quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after buying an additional 21,619 shares during the period. Point72 DIFC Ltd boosted its stake in Ingredion by 2,629.3% during the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after buying an additional 3,681 shares in the last quarter. AQR Capital Management LLC grew its holdings in Ingredion by 55.7% during the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock worth $36,902,000 after acquiring an additional 115,147 shares during the period. Finally, Bridges Investment Management Inc. bought a new stake in Ingredion in the second quarter worth about $528,000. 85.27% of the stock is owned by institutional investors.

Ingredion Trading Down 0.2 %

Ingredion stock opened at $149.95 on Thursday. The company has a 50 day moving average price of $137.15 and a 200 day moving average price of $126.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a 52 week low of $100.90 and a 52 week high of $155.44. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.29 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. Ingredion’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. Research analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s dividend payout ratio is 31.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INGR shares. BMO Capital Markets raised their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. UBS Group lifted their price target on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Oppenheimer lifted their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of the company’s 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 transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction that occurred 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 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,056 shares of company stock valued at $4,121,736. Corporate insiders own 1.80% of the company’s stock.

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.