LSV Asset Management Reduces Stock Holdings in Ingredion Incorporated (NYSE:INGR)

LSV Asset Management lowered its position in Ingredion Incorporated (NYSE:INGR) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,166,742 shares of the company’s stock after selling 22,350 shares during the quarter. LSV Asset Management owned about 3.30% of Ingredion worth $248,525,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in shares of Ingredion by 177.8% in the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock valued at $45,491,000 after purchasing an additional 253,949 shares during the period. Gallacher Capital Management LLC grew its holdings in shares of Ingredion by 181.0% in the second quarter. Gallacher Capital Management LLC now owns 5,446 shares of the company’s stock valued at $625,000 after purchasing an additional 3,508 shares during the period. Los Angeles Capital Management LLC purchased a new position in Ingredion during the second quarter worth about $516,000. Foundry Partners LLC boosted its stake in Ingredion by 21.3% during the second quarter. Foundry Partners LLC now owns 2,973 shares of the company’s stock worth $341,000 after buying an additional 523 shares during the period. Finally, Arizona State Retirement System boosted its stake in Ingredion by 2.4% during the second quarter. Arizona State Retirement System now owns 18,354 shares of the company’s stock worth $2,105,000 after buying an additional 438 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. UBS Group increased their target price on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer raised their price objective on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.33.

Ingredion Stock Up 0.2 %

Shares of NYSE INGR traded up $0.31 during midday trading on Friday, hitting $135.23. The company’s stock had a trading volume of 285,678 shares, compared to its average volume of 381,274. The business’s fifty day simple moving average is $124.37 and its two-hundred day simple moving average is $118.78. 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 $89.54 and a 1 year high of $136.42. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the firm earned $2.32 earnings per share. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. On average, equities analysts predict that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

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

Insider Buying and Selling

In related news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James P. Zallie sold 22,550 shares of the business’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 transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the sale, the senior vice president now owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The disclosure for this sale can be found here. Insiders sold 26,045 shares of company stock worth $3,482,491 over the last 90 days. 1.80% of the stock is owned by insiders.

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.