Ingredion Incorporated (NYSE:INGR) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,539,179 shares of the company’s stock after purchasing an additional 36,421 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Ingredion were worth $211,529,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundry Partners LLC grew its position in shares of Ingredion by 69.3% during the third quarter. Foundry Partners LLC now owns 5,032 shares of the company’s stock worth $692,000 after acquiring an additional 2,059 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Ingredion in the 3rd quarter worth about $525,000. Advisors Asset Management Inc. increased its stake in shares of Ingredion by 11.4% in the third quarter. Advisors Asset Management Inc. now owns 29,153 shares of the company’s stock valued at $4,006,000 after purchasing an additional 2,988 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Ingredion during the third quarter valued at approximately $41,000. Finally, Belmont Capital LLC acquired a new position in shares of Ingredion during the third quarter worth approximately $161,000. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,178 shares of company stock worth $4,982,857 in the last three months. 1.80% of the stock is currently owned by insiders.

Ingredion Price Performance

NYSE:INGR opened at $146.47 on Friday. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.54 billion, a P/E ratio of 14.29, a PEG ratio of 1.22 and a beta of 0.73. The business’s 50-day moving average price is $138.09 and its 200 day moving average price is $127.29.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. 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 annualized dividend and a dividend yield of 2.18%. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

Analyst Ratings Changes

Several analysts recently commented on INGR shares. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays raised their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Oppenheimer raised their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets upped 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

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.