Silvercrest Asset Management Group LLC Increases Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Silvercrest Asset Management Group LLC boosted its position in shares of Ingredion Incorporated (NYSE:INGR) by 28.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,051 shares of the company’s stock after acquiring an additional 4,027 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Ingredion were worth $2,109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aristides Capital LLC purchased a new position in shares of Ingredion during the 1st quarter valued at $270,000. Price T Rowe Associates Inc. MD grew its position in Ingredion by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,461 shares of the company’s stock worth $4,495,000 after buying an additional 1,904 shares in the last quarter. LRI Investments LLC bought a new position in Ingredion in the 1st quarter worth about $65,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Ingredion in the 1st quarter valued at about $7,259,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Ingredion by 42.3% during the 1st quarter. Advisors Asset Management Inc. now owns 22,141 shares of the company’s stock valued at $2,587,000 after acquiring an additional 6,580 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR opened at $123.80 on Wednesday. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.14 and a beta of 0.72. The business has a 50 day moving average of $116.14 and a 200 day moving average of $114.87. 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 Incorporated has a 1-year low of $89.54 and a 1-year high of $124.00.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.08. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business posted $2.80 EPS. The business’s quarterly revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts predict that Ingredion Incorporated will post 9.7 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st were paid a dividend of $0.78 per share. The ex-dividend date was Monday, July 1st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.52%. Ingredion’s dividend payout ratio (DPR) is currently 31.26%.

Insider Transactions at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 28,848 shares in the company, valued at $3,436,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingredion news, CFO James D. Gray sold 8,490 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the transaction, the chief financial officer now directly owns 42,833 shares in the company, valued at approximately $5,214,489.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $119.11, for a total transaction of $282,171.59. Following the sale, the senior vice president now directly owns 28,848 shares in the company, valued at approximately $3,436,085.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,359 shares of company stock worth $4,515,644. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INGR. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. BMO Capital Markets increased their price target on shares of Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

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.