TD Asset Management Inc Sells 1,500 Shares of Ingredion Incorporated (NYSE:INGR)

TD Asset Management Inc lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,900 shares of the company’s stock after selling 1,500 shares during the period. TD Asset Management Inc owned 0.05% of Ingredion worth $4,003,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Ingredion in the 4th quarter valued at $82,272,000. Vanguard Group Inc. lifted its holdings in Ingredion by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock worth $843,617,000 after buying an additional 427,496 shares during the period. Morningstar Investment Services LLC lifted its holdings in Ingredion by 98.5% during the 4th quarter. Morningstar Investment Services LLC now owns 393,101 shares of the company’s stock worth $42,789,000 after buying an additional 195,106 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Ingredion by 43.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after buying an additional 123,406 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Ingredion by 207.9% during the 1st quarter. Van ECK Associates Corp now owns 170,910 shares of the company’s stock worth $19,971,000 after buying an additional 115,399 shares during the period. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 0.7 %

Ingredion stock opened at $134.49 on Thursday. The stock has a market cap of $8.75 billion, a P/E ratio of 13.40, a PEG ratio of 1.24 and a beta of 0.73. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21. The firm’s fifty day moving average price is $125.26 and its 200-day moving average price is $119.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52.

Ingredion (NYSE:INGR) last released its quarterly earnings results 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. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.32 earnings per share. Equities research analysts forecast that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

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

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James P. Zallie sold 22,550 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. UBS Group lifted their price target on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets lifted their price target on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer boosted their target price on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.33.

About Ingredion

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.