WBI Investments LLC Buys New Shares in Ingredion Incorporated (NYSE:INGR)

WBI Investments LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,136 shares of the company’s stock, valued at approximately $483,000.

Other institutional investors have also recently bought and sold shares of the company. Loews Corp raised its holdings in shares of Ingredion by 11.1% in the fourth quarter. Loews Corp now owns 200,000 shares of the company’s stock valued at $21,706,000 after purchasing an additional 20,000 shares during the last quarter. Paradiem LLC raised its holdings in shares of Ingredion by 64.2% in the fourth quarter. Paradiem LLC now owns 73,190 shares of the company’s stock valued at $7,943,000 after purchasing an additional 28,617 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of Ingredion by 230.9% in the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock valued at $1,604,000 after purchasing an additional 9,577 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ingredion by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,471,587 shares of the company’s stock valued at $268,243,000 after purchasing an additional 82,599 shares during the last quarter. Finally, BNP Paribas purchased a new stake in shares of Ingredion in the first quarter valued at about $1,154,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In other news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the transaction, the senior vice president now owns 28,848 shares of the company’s stock, valued at approximately $3,436,085.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the transaction, the senior vice president now owns 28,848 shares of the company’s stock, valued at approximately $3,436,085.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 27,500 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at approximately $6,073,642.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,359 shares of company stock worth $4,515,644. Corporate insiders own 1.80% of the company’s stock.

Ingredion Trading Up 1.6 %

NYSE:INGR traded up $1.80 during trading hours on Thursday, hitting $115.07. The company had a trading volume of 146,143 shares, compared to its average volume of 396,953. The company has a market capitalization of $7.55 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.72. The stock has a 50-day moving average price of $115.97 and a 200 day moving average price of $113.80. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $122.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, meeting the consensus estimate of $2.08. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share. On average, equities research analysts predict that Ingredion Incorporated will post 9.7 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be issued 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 is Monday, July 1st. Ingredion’s dividend payout ratio (DPR) is presently 31.26%.

Analyst Ratings Changes

Several analysts have recently commented on INGR shares. BMO Capital Markets increased their target price on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

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.