Ingredion Incorporated (NYSE:INGR) Shares Sold by Keystone Financial Services

Keystone Financial Services lowered its position in Ingredion Incorporated (NYSE:INGR) by 20.8% during the third quarter, HoldingsChannel.com reports. The fund owned 2,541 shares of the company’s stock after selling 667 shares during the quarter. Keystone Financial Services’ holdings in Ingredion were worth $349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of INGR. Pacer Advisors Inc. grew its holdings in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after acquiring an additional 846,967 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Ingredion by 177.8% in the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after acquiring an additional 253,949 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after acquiring an additional 174,495 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after acquiring an additional 125,543 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Ingredion by 43.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after acquiring an additional 123,406 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 371 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This trade represents a 0.00 % decrease in their position. The sale 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 Ingredion stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,056 shares of company stock valued at $4,121,736. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on INGR shares. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets increased their target price on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Oppenheimer increased their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, UBS Group increased their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.00.

Ingredion Price Performance

INGR stock opened at $149.75 on Tuesday. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The stock’s fifty day simple moving average is $136.22 and its 200-day simple moving average is $125.52. The company has a quick ratio of 1.51, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.30 and a beta of 0.73.

Ingredion (NYSE:INGR) last posted its quarterly earnings data 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. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. Equities research analysts expect that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.80 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.14%. Ingredion’s dividend payout ratio (DPR) is 31.22%.

About Ingredion

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.