Lowe Brockenbrough & Co. Inc. Lowers Position in Ingredion Incorporated (NYSE:INGR)

Lowe Brockenbrough & Co. Inc. cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 6,378 shares of the company’s stock after selling 115 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Ingredion were worth $877,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Janus Henderson Group PLC increased its stake in shares of Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after purchasing an additional 47,225 shares in the last quarter. Sei Investments Co. increased its stake in Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after buying an additional 21,619 shares in the last quarter. BNP Paribas acquired a new position in shares of Ingredion during the first quarter valued at approximately $1,154,000. Empowered Funds LLC acquired a new position in shares of Ingredion during the first quarter valued at approximately $1,812,000. Finally, Point72 DIFC Ltd lifted its position in shares of Ingredion by 2,629.3% in the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after acquiring an additional 3,681 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the company’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 transaction of $3,024,857.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,356 shares of company stock worth $3,400,709 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

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

Ingredion Stock Up 0.8 %

Shares of NYSE INGR opened at $133.77 on Friday. Ingredion Incorporated has a 1 year low of $93.26 and a 1 year high of $138.37. The company has a 50 day simple moving average of $134.74 and a 200-day simple moving average of $124.22. The company has a market capitalization of $8.70 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.21 and a beta of 0.72. 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 (NYSE:INGR) last announced its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $2.32 earnings per share. Ingredion’s revenue was down 9.2% compared to the same quarter last year. On average, equities research analysts predict that Ingredion Incorporated will post 10.05 earnings per share for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.39%. Ingredion’s payout ratio is presently 32.72%.

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.