W.H. Cornerstone Investments Inc. Reduces Stock Position in Ingredion Incorporated (NYSE:INGR)

W.H. Cornerstone Investments Inc. cut its stake in Ingredion Incorporated (NYSE:INGR) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,142 shares of the company’s stock after selling 828 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Ingredion were worth $981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INGR. Signaturefd LLC increased its position in shares of Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after buying an additional 85 shares during the period. Conscious Wealth Investments LLC grew its stake in Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after acquiring an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Delphi Management Inc. MA grew its position in shares of Ingredion by 0.8% during the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after purchasing an additional 123 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Ingredion by 1.1% in the third quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock worth $1,728,000 after purchasing an additional 133 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

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

Ingredion Stock Up 0.2 %

Shares of NYSE INGR opened at $134.04 on Tuesday. The stock has a market capitalization of $8.72 billion, a P/E ratio of 13.71, a PEG ratio of 1.21 and a beta of 0.73. 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 one year low of $95.07 and a one year high of $138.37. The firm’s 50 day simple moving average is $134.76 and its two-hundred day simple moving average is $124.46.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 6th. The company reported $2.87 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 for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $2.32 EPS. The firm’s revenue was down 9.2% compared to the same quarter last year. As a group, analysts expect that Ingredion Incorporated will post 10.05 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.39%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.72%.

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.