Farther Finance Advisors LLC Boosts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Farther Finance Advisors LLC boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 216.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 769 shares of the company’s stock after purchasing an additional 526 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ingredion were worth $106,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in Ingredion by 2.9% in the third quarter. US Bancorp DE now owns 16,077 shares of the company’s stock valued at $2,210,000 after purchasing an additional 447 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Ingredion in the 3rd quarter valued at $469,000. Pinnacle Associates Ltd. grew its position in shares of Ingredion by 6.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 3,003 shares of the company’s stock valued at $413,000 after buying an additional 175 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in Ingredion during the 3rd quarter worth $217,000. Finally, Farmers & Merchants Investments Inc. lifted its position in Ingredion by 21,385.2% in the third quarter. Farmers & Merchants Investments Inc. now owns 5,801 shares of the company’s stock valued at $797,000 after acquiring an additional 5,774 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

INGR has been the subject of several research reports. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Oppenheimer increased their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group increased their price target on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets raised their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” 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. Based on data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average target price of $151.00.

Ingredion Trading Down 1.2 %

INGR stock opened at $149.75 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.30 and a beta of 0.73. The business has a fifty day simple moving average of $136.22 and a 200-day simple moving average of $125.52. Ingredion Incorporated has a 52 week low of $100.90 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 earnings per share. On average, equities research analysts expect that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is 31.22%.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,056 shares of company stock worth $4,121,736 in the last three months. 1.80% of the stock is owned by insiders.

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.