Goelzer Investment Management Inc. Has $6.26 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Goelzer Investment Management Inc. reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,577 shares of the company’s stock after selling 189 shares during the period. Goelzer Investment Management Inc. owned approximately 0.07% of Ingredion worth $6,264,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in Ingredion during the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion in the second quarter valued at about $33,000. Finally, Family Firm Inc. bought a new stake in Ingredion during the second quarter worth about $36,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

INGR has been the topic of several recent analyst reports. Oppenheimer boosted their price target on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets upped their price objective on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Finally, Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.33.

Ingredion Stock Performance

NYSE:INGR traded up $0.90 during mid-day trading on Friday, hitting $135.10. 202,700 shares of the stock were exchanged, compared to its average volume of 379,852. The firm’s 50-day simple moving average is $132.20 and its 200 day simple moving average is $121.47. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.23 and a beta of 0.72. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37. 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 announced its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business posted $2.32 earnings per share. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, equities analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is 32.06%.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,046 shares of company stock valued at $3,482,626 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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.