STAR Financial Bank Raises Stock Position in Ingredion Incorporated (NYSE:INGR)

STAR Financial Bank increased its stake in Ingredion Incorporated (NYSE:INGRFree Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,581 shares of the company’s stock after acquiring an additional 132 shares during the quarter. STAR Financial Bank’s holdings in Ingredion were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Jones Financial Companies Lllp acquired a new stake in Ingredion during the 4th quarter worth $25,000. Blue Trust Inc. boosted its stake in Ingredion by 40.2% during the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Ingredion by 63.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after purchasing an additional 147 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Ingredion by 59.8% during the 4th quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after acquiring an additional 159 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Ingredion by 54.0% during the 4th quarter. Quadrant Capital Group LLC now owns 667 shares of the company’s stock valued at $72,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INGR shares. BMO Capital Markets boosted their price target on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Barclays boosted their price objective on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of Ingredion in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Get Our Latest Analysis on Ingredion

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 27,500 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the sale, the chief executive officer now owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 27,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at approximately $6,073,642.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the sale, the chief financial officer now directly owns 42,833 shares in the company, valued at $5,214,489.42. The disclosure for this sale can be found here. Insiders have sold a total of 38,361 shares of company stock valued at $4,515,876 over the last quarter. Insiders own 1.80% of the company’s stock.

Ingredion Price Performance

NYSE:INGR traded up $0.16 during trading hours on Wednesday, hitting $115.09. The company’s stock had a trading volume of 65,799 shares, compared to its average volume of 376,909. The business’s 50-day moving average is $115.74 and its two-hundred day moving average is $112.21. The company has a market capitalization of $7.56 billion, a PE ratio of 11.48, a PEG ratio of 1.09 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $122.18.

Ingredion (NYSE:INGRGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the business posted $2.80 earnings per share. Ingredion’s revenue was down 11.9% compared to the same quarter last year. As a group, research analysts anticipate that Ingredion Incorporated will post 9.76 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 1st will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Monday, July 1st. Ingredion’s payout ratio is currently 31.26%.

Ingredion Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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