Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion Incorporated (NYSE:INGR – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 286 shares of the company’s stock, valued at approximately $33,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Conscious Wealth Investments LLC boosted its stake in shares of Ingredion by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after buying an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Ingredion by 10.4% in the 2nd quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock worth $170,000 after buying an additional 140 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Ingredion by 8.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock worth $242,000 after buying an additional 158 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Ingredion by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 4,628 shares of the company’s stock worth $541,000 after buying an additional 177 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.
Ingredion Price Performance
Shares of Ingredion stock opened at $136.03 on Wednesday. The stock’s 50-day simple moving average is $130.92 and its 200-day simple moving average is $120.99. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $138.37. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.23 and a beta of 0.73. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.
Ingredion Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.35%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. Ingredion’s payout ratio is presently 32.06%.
Insider Transactions at Ingredion
In other news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated 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 directly owns 52,530 shares in the company, valued at $7,040,595.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,046 shares of company stock valued at $3,482,626. 1.80% of the stock is currently owned by insiders.
Analysts Set New Price Targets
INGR has been the topic of a number of research reports. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $122.00 to $145.00 in a research report on Friday, August 9th. UBS Group lifted their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. BMO Capital Markets lifted their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer lifted their target price on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research 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. Based on data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus price target of $137.33.
Check Out Our Latest Analysis on INGR
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.
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