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

Chesapeake Capital Corp IL boosted its stake in Ingredion Incorporated (NYSE:INGR) by 27.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,121 shares of the company’s stock after buying an additional 1,335 shares during the quarter. Ingredion makes up approximately 0.8% of Chesapeake Capital Corp IL’s portfolio, making the stock its 28th largest holding. Chesapeake Capital Corp IL’s holdings in Ingredion were worth $841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after acquiring an additional 846,967 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Ingredion by 177.8% in the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock valued at $45,491,000 after acquiring an additional 253,949 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after acquiring an additional 174,495 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after acquiring an additional 125,543 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Ingredion by 43.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock valued at $47,303,000 after acquiring an additional 123,406 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Down 5.6 %

Shares of NYSE INGR opened at $140.83 on Friday. The company has a 50 day simple moving average of $137.55 and a 200-day simple moving average of $126.53. The company has a market capitalization of $9.18 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.21 and a beta of 0.73. 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 1 year low of $100.90 and a 1 year high of $155.44.

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

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. This trade represents a 30.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,056 shares of company stock valued at $4,121,736. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on INGR shares. UBS Group increased their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays raised their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Oppenheimer raised their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.