Waverly Advisors LLC Purchases New Stake in Ingredion Incorporated (NYSE:INGR)

Waverly Advisors LLC purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the first quarter, HoldingsChannel.com reports. The fund purchased 45,366 shares of the company’s stock, valued at approximately $5,301,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in Ingredion in the fourth quarter valued at about $25,000. Blue Trust Inc. raised its stake in Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after purchasing an additional 103 shares in the last quarter. National Bank of Canada FI raised its stake in Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after purchasing an additional 159 shares in the last quarter. LRI Investments LLC acquired a new position in Ingredion in the first quarter valued at about $65,000. Finally, Quadrant Capital Group LLC raised its stake in Ingredion by 54.0% during the fourth quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock worth $72,000 after acquiring an additional 234 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In other news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the transaction, the senior vice president now owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the sale, the senior vice president now directly owns 28,848 shares in the company, valued at $3,436,085.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James D. Gray sold 8,490 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the sale, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The disclosure for this sale can be found here. Insiders sold 38,359 shares of company stock valued at $4,515,644 over the last quarter. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INGR has been the subject of several research analyst reports. BMO Capital Markets boosted their target price on Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Ingredion Trading Up 1.4 %

Shares of Ingredion stock traded up $1.71 on Tuesday, hitting $123.06. The stock had a trading volume of 183,069 shares, compared to its average volume of 389,813. The stock has a 50 day moving average of $116.04 and a 200 day moving average of $114.77. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $123.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44. The firm has a market capitalization of $8.08 billion, a P/E ratio of 12.17, a PEG ratio of 1.14 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The firm’s revenue was down 11.9% compared to the same quarter last year. Sell-side analysts expect that Ingredion Incorporated will post 9.7 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, July 1st. Ingredion’s dividend payout ratio is currently 31.26%.

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.