Ferguson Wellman Capital Management Inc. Lowers Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,852 shares of the company’s stock after selling 305 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Ingredion were worth $942,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ingredion during the second quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its stake in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ingredion in the second quarter valued at $33,000. Family Firm Inc. acquired a new position in Ingredion in the second quarter valued at $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ingredion during the second quarter worth about $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on INGR shares. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets increased their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, Oppenheimer increased their price objective on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus target price of $137.33.

Insider Buying and Selling

In other news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. 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 over the last ninety days. 1.80% of the stock is owned by insiders.

Ingredion Stock Down 0.4 %

NYSE INGR opened at $134.26 on Friday. The stock has a market cap of $8.81 billion, a PE ratio of 13.45, a P/E/G ratio of 1.22 and a beta of 0.72. The business has a 50 day moving average price of $134.12 and a two-hundred day moving average price of $122.71. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping 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 firm posted $2.32 earnings per share. The company’s revenue was down 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a dividend of $0.80 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Tuesday, October 1st. Ingredion’s dividend payout ratio is currently 32.06%.

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.