Chesapeake Capital Corp IL Raises Position in Ingredion Incorporated (NYSE:INGR)

Chesapeake Capital Corp IL lifted its position in shares of Ingredion Incorporated (NYSE:INGR) by 27.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,121 shares of the company’s stock after purchasing an additional 1,335 shares during the period. Ingredion comprises about 0.8% of Chesapeake Capital Corp IL’s holdings, making the stock its 28th largest position. Chesapeake Capital Corp IL’s holdings in Ingredion were worth $841,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Signaturefd LLC lifted its position in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after purchasing an additional 85 shares during the last quarter. Seelaus Asset Management LLC lifted its position in shares of Ingredion by 3.3% during the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after purchasing an additional 105 shares during the last quarter. Conscious Wealth Investments LLC lifted its position in shares of Ingredion by 0.4% during the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after purchasing an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 118 shares during the last quarter. Finally, Delphi Management Inc. MA raised its stake in Ingredion by 0.8% during the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group lifted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Transactions at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction 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 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 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,056 shares of company stock worth $4,121,736 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Ingredion Trading Down 5.6 %

NYSE INGR opened at $140.83 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The firm has a market cap of $9.18 billion, a PE ratio of 13.74, a P/E/G ratio of 1.21 and a beta of 0.73. Ingredion Incorporated has a one year low of $100.90 and a one year high of $155.44. The firm’s fifty day moving average is $137.55 and its two-hundred day moving average is $126.53.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 earnings per share. Analysts expect that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a $0.80 dividend. The ex-dividend date was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.27%. Ingredion’s payout ratio is currently 31.22%.

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.