Ingredion Incorporated (NYSE:INGR) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lessened its position in Ingredion Incorporated (NYSE:INGR) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,753 shares of the company’s stock after selling 176 shares during the period. MainStreet Investment Advisors LLC owned approximately 0.07% of Ingredion worth $4,904,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INGR. Vanguard Group Inc. increased its stake in shares of Ingredion by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock valued at $843,617,000 after purchasing an additional 427,496 shares during the period. Dimensional Fund Advisors LP increased its position in Ingredion by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,471,587 shares of the company’s stock valued at $268,243,000 after acquiring an additional 82,599 shares during the period. Cooke & Bieler LP raised its stake in Ingredion by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after acquiring an additional 27,087 shares in the last quarter. Equity Investment Corp boosted its position in Ingredion by 2.9% during the 1st quarter. Equity Investment Corp now owns 952,110 shares of the company’s stock worth $111,254,000 after acquiring an additional 27,062 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Ingredion by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock worth $87,125,000 after purchasing an additional 17,062 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 approximately $7,040,595.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,045 shares of company stock valued at $3,482,491. 1.80% of the stock is owned by insiders.

Ingredion Price Performance

Shares of NYSE:INGR opened at $135.23 on Friday. The company has a market capitalization of $8.88 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The stock has a fifty day moving average of $124.37 and a 200-day moving average of $118.78. Ingredion Incorporated has a one year low of $89.54 and a one year high of $136.42.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.32 earnings per share. As a group, equities analysts anticipate that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio is currently 32.06%.

Wall Street Analysts Forecast Growth

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

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.