Van ECK Associates Corp Raises Stake in Ingredion Incorporated (NYSE:INGR)

Van ECK Associates Corp raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,730 shares of the company’s stock after purchasing an additional 5,591 shares during the quarter. Van ECK Associates Corp owned 0.24% of Ingredion worth $21,311,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ingredion during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its position in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ingredion during the second quarter valued at approximately $33,000. Family Firm Inc. bought a new stake in shares of Ingredion during the second quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC bought a new stake in Ingredion in the second quarter worth $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction dated Wednesday, August 28th. The shares were 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 in the company, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,356 shares of company stock valued at $3,400,709 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Price Performance

Shares of INGR opened at $134.04 on Tuesday. The firm has a market capitalization of $8.72 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. Ingredion Incorporated has a 1-year low of $95.07 and a 1-year high of $138.37. The company’s fifty day moving average price is $134.76 and its 200-day moving average price is $124.46.

Ingredion (NYSE:INGR) last posted 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. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company earned $2.32 earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis. On average, equities research analysts predict that Ingredion Incorporated will post 10.05 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced 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. 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 2.39%. The ex-dividend date was Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 32.72%.

Wall Street Analyst Weigh In

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

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.