Gallacher Capital Management LLC Sells 437 Shares of Ingredion Incorporated (NYSE:INGR)

Gallacher Capital Management LLC reduced its stake in Ingredion Incorporated (NYSE:INGR) by 18.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,938 shares of the company’s stock after selling 437 shares during the period. Gallacher Capital Management LLC’s holdings in Ingredion were worth $226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its position in shares of Ingredion by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 57,062 shares of the company’s stock worth $6,668,000 after purchasing an additional 746 shares during the last quarter. WBI Investments LLC acquired a new stake in Ingredion during the 1st quarter worth $483,000. Mendel Money Management raised its stake in Ingredion by 200.9% during the 1st quarter. Mendel Money Management now owns 3,334 shares of the company’s stock worth $390,000 after buying an additional 6,638 shares during the period. BNP Paribas acquired a new stake in Ingredion during the 1st quarter worth $1,154,000. Finally, Hussman Strategic Advisors Inc. raised its stake in Ingredion by 50.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 31,500 shares of the company’s stock worth $3,681,000 after buying an additional 10,500 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 27,500 shares of Ingredion stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 52,197 shares in the company, valued at $6,073,642.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO James D. Gray sold 8,490 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the sale, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction that occurred on 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 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. Over the last 90 days, insiders sold 38,359 shares of company stock worth $4,515,644. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INGR. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets lifted their price target on Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and a consensus target price of $127.17.

Ingredion Stock Up 0.6 %

Shares of NYSE INGR traded up $0.72 during mid-day trading on Friday, hitting $115.49. The company had a trading volume of 53,298 shares, compared to its average volume of 395,618. The company has a market capitalization of $7.58 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.72. The firm has a 50-day simple moving average of $115.96 and a two-hundred day simple moving average of $113.81. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a one year low of $89.54 and a one year high of $122.18.

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

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors 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 yield of 2.70%. The ex-dividend date is Monday, July 1st. Ingredion’s payout ratio is currently 31.26%.

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.