Louisiana State Employees Retirement System Has $2.47 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Louisiana State Employees Retirement System cut its holdings in Ingredion Incorporated (NYSE:INGR) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,000 shares of the company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Ingredion were worth $2,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INGR. Pacer Advisors Inc. increased its position in Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after purchasing an additional 846,967 shares during the period. Acadian Asset Management LLC increased its position in Ingredion by 177.8% in the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after purchasing an additional 253,949 shares during the period. International Assets Investment Management LLC increased its position in Ingredion by 55,219.9% in the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after purchasing an additional 174,495 shares during the period. Dimensional Fund Advisors LP increased its position in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after purchasing an additional 125,543 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Ingredion by 43.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after purchasing an additional 123,406 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INGR. BMO Capital Markets lifted their price objective on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. Oppenheimer boosted their target price on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. UBS Group boosted their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. One equities research 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, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $138.83.

Ingredion Trading Down 0.1 %

NYSE:INGR opened at $134.80 on Tuesday. Ingredion Incorporated has a fifty-two week low of $91.60 and a fifty-two week high of $138.37. 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 capitalization of $8.85 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The business’s 50-day simple moving average is $134.60 and its 200-day simple moving average is $123.51.

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

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is 32.06%.

Insider Activity

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on 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 owns 15,906 shares in the company, valued at approximately $1,988,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on 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 owns 15,906 shares in the company, valued at approximately $1,988,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,551 shares of company stock worth $3,550,084 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.