Commerce Bank Cuts Position in Ingredion Incorporated (NYSE:INGR)

Commerce Bank trimmed its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,254 shares of the company’s stock after selling 117 shares during the period. Commerce Bank’s holdings in Ingredion were worth $997,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INGR. O Shaughnessy Asset Management LLC increased its stake in shares of Ingredion by 86.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,540 shares of the company’s stock worth $530,000 after buying an additional 2,107 shares during the period. LRI Investments LLC purchased a new position in Ingredion in the first quarter valued at approximately $65,000. Price T Rowe Associates Inc. MD increased its stake in Ingredion by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 38,461 shares of the company’s stock valued at $4,495,000 after purchasing an additional 1,904 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in Ingredion by 28.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 18,051 shares of the company’s stock valued at $2,109,000 after purchasing an additional 4,027 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new position in Ingredion in the first quarter valued at approximately $5,301,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Up 1.5 %

NYSE:INGR opened at $146.47 on Monday. The company has a market capitalization of $9.54 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.24 and a beta of 0.73. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The stock has a fifty day simple moving average of $138.33 and a 200-day simple moving average of $127.58.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.33 EPS. On average, equities research analysts expect that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is 31.22%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Oppenheimer increased their price target 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 increased their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, UBS Group lifted their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the business’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 transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The trade was a 30.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,178 shares of company stock valued at $4,848,837 in the last 90 days. 1.80% of the stock is currently owned by insiders.

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.