M&T Bank Corp Sells 3,950 Shares of Ingredion Incorporated (NYSE:INGR)

M&T Bank Corp lowered its stake in Ingredion Incorporated (NYSE:INGR) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,319 shares of the company’s stock after selling 3,950 shares during the quarter. M&T Bank Corp’s holdings in Ingredion were worth $8,427,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in INGR. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion during the second quarter worth $33,000. Prospera Private Wealth LLC purchased a new position in Ingredion during the third quarter worth about $41,000. International Assets Investment Management LLC purchased a new position in Ingredion in the second quarter valued at approximately $36,000. Abich Financial Wealth Management LLC bought a new position in shares of Ingredion during the 2nd quarter worth $56,000. Finally, Concord Wealth Partners boosted its position in Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

INGR has been the subject of several research analyst reports. UBS Group lifted their target price 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. Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. BMO Capital Markets lifted their price objective on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Oppenheimer boosted their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Stock Down 0.4 %

NYSE:INGR opened at $138.19 on Monday. 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 cap of $9.00 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.24 and a beta of 0.74. The stock has a fifty day simple moving average of $142.29 and a 200-day simple moving average of $131.48. Ingredion Incorporated has a twelve month low of $106.03 and a twelve month high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $2.33 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the firm’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 transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,198 shares of company stock worth $9,702,461 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.