Ingredion Incorporated (NYSE:INGR) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 128,200 shares of the company’s stock after selling 800 shares during the quarter. Swiss National Bank’s holdings in Ingredion were worth $17,619,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion during the 2nd quarter worth about $33,000. Family Firm Inc. purchased a new position in shares of Ingredion during the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new position in Ingredion during the 2nd quarter worth about $36,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of Ingredion 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 transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,178 shares of company stock worth $4,982,857. Company insiders own 1.80% of the company’s stock.

Ingredion Trading Up 1.4 %

NYSE:INGR opened at $144.36 on Friday. The business has a 50 day simple moving average of $137.90 and a 200 day simple moving average of $127.17. Ingredion Incorporated has a 12-month low of $100.90 and a 12-month high of $155.44. The firm has a market capitalization of $9.41 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.22 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last released 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 previous year, the business earned $2.33 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. Equities research analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.80 dividend. The ex-dividend date was 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 2.22%. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Ingredion 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.