Ingredion Incorporated (NYSE:INGR) Stake Reduced by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC cut its holdings in Ingredion Incorporated (NYSE:INGR) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,935 shares of the company’s stock after selling 212 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Ingredion were worth $1,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ingredion in the second quarter worth about $26,000. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ingredion during the 2nd quarter worth about $33,000. Family Firm Inc. acquired a new stake in Ingredion during the 2nd quarter worth about $36,000. Finally, International Assets Investment Management LLC acquired a new stake in Ingredion during the 2nd quarter worth about $36,000. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on INGR. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $122.00 to $145.00 in a report on Friday, August 9th. BMO Capital Markets boosted their price objective on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. UBS Group boosted their price objective on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Oppenheimer upped their target price on Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.83.

Ingredion Price Performance

Shares of INGR opened at $154.78 on Wednesday. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.21 and a beta of 0.73. Ingredion Incorporated has a fifty-two week low of $95.07 and a fifty-two week high of $154.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The business’s 50-day moving average is $135.21 and its 200-day moving average is $124.75.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.32 EPS. Equities research analysts expect that Ingredion Incorporated will post 10.05 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.80 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.07%. Ingredion’s payout ratio is presently 32.72%.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This 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 is available through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,356 shares of company stock valued at $3,400,709. 1.80% of the stock is owned by corporate insiders.

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.