AMG National Trust Bank Acquires 364 Shares of Ingredion Incorporated (NYSE:INGR)

AMG National Trust Bank raised its holdings in Ingredion Incorporated (NYSE:INGR) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,220 shares of the company’s stock after purchasing an additional 364 shares during the quarter. AMG National Trust Bank’s holdings in Ingredion were worth $1,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kingsview Wealth Management LLC bought a new stake in shares of Ingredion during the first quarter valued at approximately $218,000. O Shaughnessy Asset Management LLC lifted its holdings in Ingredion by 86.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,540 shares of the company’s stock worth $530,000 after buying an additional 2,107 shares in the last quarter. MQS Management LLC bought a new position in Ingredion in the 1st quarter valued at $226,000. Advisors Asset Management Inc. increased its stake in shares of Ingredion by 42.3% in the 1st quarter. Advisors Asset Management Inc. now owns 22,141 shares of the company’s stock valued at $2,587,000 after buying an additional 6,580 shares during the period. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in shares of Ingredion during the first quarter worth $7,259,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction on 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 in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,178 shares of company stock worth $4,982,857 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Down 1.4 %

Shares of NYSE INGR opened at $138.84 on Tuesday. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a market cap of $9.05 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.21 and a beta of 0.73. The firm has a 50 day moving average price of $137.55 and a 200 day moving average price of $126.70.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. Analysts expect that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders 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 2.30%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

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.