Ingredion Incorporated $INGR Stock Position Reduced by South Dakota Investment Council

South Dakota Investment Council cut its stake in shares of Ingredion Incorporated (NYSE:INGR) by 5.9% during the second quarter, HoldingsChannel.com reports. The firm owned 30,087 shares of the company’s stock after selling 1,900 shares during the period. South Dakota Investment Council’s holdings in Ingredion were worth $4,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Jump Financial LLC lifted its stake in Ingredion by 474.2% in the first quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock valued at $1,555,000 after acquiring an additional 9,498 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Ingredion by 38.2% in the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock valued at $46,268,000 after acquiring an additional 94,575 shares during the last quarter. Nordea Investment Management AB lifted its stake in Ingredion by 66.3% in the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after acquiring an additional 288,201 shares during the last quarter. Brown Advisory Inc. lifted its stake in Ingredion by 8.4% in the first quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock valued at $313,000 after acquiring an additional 180 shares during the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in Ingredion in the second quarter valued at approximately $232,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on INGR. UBS Group reduced their target price on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Oppenheimer set a $136.00 price objective on shares of Ingredion in a research note on Wednesday, October 22nd. Zacks Research cut shares of Ingredion from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings cut shares of Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ingredion currently has an average rating of “Hold” and an average target price of $143.40.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the transaction, the chief executive officer directly owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by insiders.

Ingredion Price Performance

NYSE:INGR opened at $113.90 on Tuesday. The stock has a market cap of $7.31 billion, a P/E ratio of 11.11, a PEG ratio of 0.95 and a beta of 0.74. Ingredion Incorporated has a one year low of $113.79 and a one year high of $155.44. The company has a fifty day moving average price of $122.53 and a 200 day moving average price of $130.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR) last released its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.87 EPS. Analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s dividend payout ratio is currently 32.00%.

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.