Parallel Advisors LLC Purchases 311 Shares of Ingredion Incorporated (NYSE:INGR)

Parallel Advisors LLC lifted its position in Ingredion Incorporated (NYSE:INGRFree Report) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,053 shares of the company’s stock after acquiring an additional 311 shares during the quarter. Parallel Advisors LLC’s holdings in Ingredion were worth $331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its holdings in Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after purchasing an additional 147 shares in the last quarter. Blue Trust Inc. raised its holdings in Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares in the last quarter. National Bank of Canada FI raised its holdings in Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after purchasing an additional 159 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Ingredion by 54.0% in the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock worth $72,000 after purchasing an additional 234 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in Ingredion in the fourth quarter worth about $96,000. 85.27% of the stock is currently owned by institutional investors.

Ingredion Price Performance

Shares of NYSE INGR opened at $117.58 on Friday. The business’s 50 day moving average price is $115.81 and its 200 day moving average price is $111.98. The firm has a market cap of $7.72 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.10 and a beta of 0.81. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $122.18. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGRGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, hitting the consensus estimate of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the firm posted $2.80 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Ingredion Incorporated will post 9.76 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 1st will be given a $0.78 dividend. The ex-dividend date is Monday, July 1st. This represents a $3.12 annualized dividend and a yield of 2.65%. Ingredion’s dividend payout ratio is presently 31.26%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on INGR shares. Barclays boosted their price target on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Stephens restated an “overweight” rating and set a $130.00 price target on shares of Ingredion in a research note on Wednesday, February 7th. BMO Capital Markets boosted their price target on Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $127.17.

View Our Latest Analysis on Ingredion

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the sale, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO James P. Zallie sold 54,581 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at approximately $11,635,601.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the transaction, the senior vice president now directly owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,442 shares of company stock worth $7,715,052. Corporate insiders own 1.80% of the company’s stock.

Ingredion Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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