Mutual of America Capital Management LLC Trims Stock Position in Ingredion Incorporated (NYSE:INGR)

Mutual of America Capital Management LLC decreased its position in Ingredion Incorporated (NYSE:INGR) by 6.4% in the third quarter, Holdings Channel reports. The firm owned 35,164 shares of the company’s stock after selling 2,423 shares during the period. Mutual of America Capital Management LLC’s holdings in Ingredion were worth $4,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of INGR. Dimensional Fund Advisors LP raised its position in Ingredion by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after purchasing an additional 125,543 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after acquiring an additional 846,967 shares during the period. Cooke & Bieler LP increased its position in Ingredion by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after purchasing an additional 27,087 shares during the period. Equity Investment Corp raised its holdings in shares of Ingredion by 2.8% in the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after purchasing an additional 26,526 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Ingredion by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock worth $87,125,000 after purchasing an additional 17,062 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INGR. Oppenheimer boosted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group upped their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets lifted their target price on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have given 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 $155.17.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 1,300 shares of the firm’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 transaction of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,178 shares of company stock worth $4,982,857. 1.80% of the stock is currently owned by insiders.

Ingredion Price Performance

Shares of INGR stock opened at $142.37 on Thursday. Ingredion Incorporated has a fifty-two week low of $100.90 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.21 and a beta of 0.73. The stock’s 50-day simple moving average is $137.74 and its 200-day simple moving average is $127.06.

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

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.25%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 31.22%.

About Ingredion

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.