Ingredion Incorporated (NYSE:INGR) Position Reduced by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its position in shares of Ingredion Incorporated (NYSE:INGR) by 94.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,567 shares of the company’s stock after selling 87,914 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ingredion were worth $765,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion during the second quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion in the 2nd quarter worth approximately $33,000. Family Firm Inc. bought a new stake in shares of Ingredion in the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new stake in Ingredion during the second quarter valued at approximately $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer upped their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their target price 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. Finally, UBS Group raised their price objective on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday. One investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,595.90. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,056 shares of company stock valued at $4,121,736 in the last quarter. Insiders own 1.80% of the company’s stock.

Ingredion Trading Down 5.6 %

NYSE INGR opened at $140.79 on Friday. Ingredion Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44. The firm’s fifty day simple moving average is $137.44 and its 200-day simple moving average is $126.35. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.17 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion for 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 quarter last year, the firm earned $2.33 EPS. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is 31.22%.

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.