Ingredion Incorporated (NYSE:INGR) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 47.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,539 shares of the company’s stock after acquiring an additional 2,098 shares during the period. Parallel Advisors LLC’s holdings in Ingredion were worth $750,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 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 worth $27,000 after purchasing an additional 118 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Ingredion by 6.3% during the first quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock valued at $255,000 after acquiring an additional 130 shares during the last quarter. STAR Financial Bank lifted its position in shares of Ingredion by 3.8% in the fourth quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock valued at $389,000 after acquiring an additional 132 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Ingredion by 10.4% in the second quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock worth $170,000 after acquiring an additional 140 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Ingredion by 8.1% in the second quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock worth $242,000 after acquiring an additional 158 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on INGR. Oppenheimer raised their price objective on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a report on Friday, August 9th. BMO Capital Markets raised their target price 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. Finally, UBS Group upped their price target on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.33.

Ingredion Stock Performance

NYSE:INGR opened at $134.70 on Tuesday. The company’s 50-day moving average is $127.02 and its two-hundred day moving average is $119.65. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $137.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business posted $2.32 earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. Analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s payout ratio is 31.26%.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s 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 $7,040,595.90. The disclosure for this sale can be found here. Insiders have sold 26,045 shares of company stock valued at $3,482,491 over the last 90 days. 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.