Commonwealth Equity Services LLC Sells 192 Shares of Ingredion Incorporated (NYSE:INGR)

Commonwealth Equity Services LLC reduced its position in shares of Ingredion Incorporated (NYSE:INGR) by 2.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,631 shares of the company’s stock after selling 192 shares during the period. Commonwealth Equity Services LLC’s holdings in Ingredion were worth $875,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC lifted its holdings in Ingredion by 2.8% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 8,147 shares of the company’s stock valued at $935,000 after purchasing an additional 221 shares during the last quarter. International Assets Investment Management LLC bought a new position in Ingredion during the 2nd quarter valued at about $36,000. Atlas Capital Advisors LLC lifted its holdings in Ingredion by 68.0% during the 2nd quarter. Atlas Capital Advisors LLC now owns 3,586 shares of the company’s stock valued at $411,000 after purchasing an additional 1,451 shares during the last quarter. Signaturefd LLC lifted its holdings in Ingredion by 10.4% during the 2nd quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock valued at $170,000 after purchasing an additional 140 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Ingredion during the 2nd quarter valued at about $483,000. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Down 0.3 %

Shares of NYSE:INGR opened at $134.27 on Wednesday. Ingredion Incorporated has a one year low of $89.54 and a one year high of $137.21. The company has a 50 day moving average of $127.46 and a 200-day moving average of $119.77. 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 stock has a market cap of $8.81 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company earned $2.32 EPS. Ingredion’s revenue was down 9.2% on a year-over-year basis. On average, sell-side analysts forecast that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.80 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.38%. Ingredion’s payout ratio is currently 32.06%.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,070.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. The disclosure for this sale can be found here. Insiders sold a total of 26,045 shares of company stock worth $3,482,491 in the last quarter. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com cut 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 raised their price objective for the company from $122.00 to $145.00 in a research report on Friday, August 9th. Oppenheimer raised their price objective on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets raised their price objective on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.33.

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.