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

Massachusetts Financial Services Co. MA grew its stake in Ingredion Incorporated (NYSE:INGR) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 owned approximately 2.37% of Ingredion worth $211,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Ingredion by 154.0% in the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after purchasing an additional 47,225 shares in the last quarter. Point72 DIFC Ltd raised its position in Ingredion by 2,629.3% in the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after purchasing an additional 3,681 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Ingredion by 55.7% in the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock valued at $36,902,000 after buying an additional 115,147 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in shares of Ingredion in the 2nd quarter valued at approximately $528,000. Finally, Waverly Advisors LLC acquired a new position in Ingredion in the 1st quarter valued at $5,301,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 1.5 %

Shares of INGR opened at $146.47 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. Ingredion Incorporated has a 12 month low of $100.90 and a 12 month high of $155.44. The stock has a market cap of $9.54 billion, a PE ratio of 14.29, a P/E/G ratio of 1.22 and a beta of 0.73. The stock’s 50-day moving average is $138.09 and its two-hundred day moving average is $127.29.

Ingredion (NYSE:INGR) last released its quarterly earnings results 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 net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.18%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s dividend payout ratio is 31.22%.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James P. Zallie sold 1,300 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,595.90. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,178 shares of company stock valued at $4,982,857 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on INGR shares. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. BMO Capital Markets lifted their price target on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer increased their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average target price of $155.17.

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.