Keene & Associates Inc. Sells 367 Shares of Ingredion Incorporated (NYSE:INGR)

Keene & Associates Inc. decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,724 shares of the company’s stock after selling 367 shares during the period. Ingredion accounts for about 3.2% of Keene & Associates Inc.’s investment portfolio, making the stock its 5th largest holding. Keene & Associates Inc.’s holdings in Ingredion were worth $4,222,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INGR. Janus Henderson Group PLC boosted its stake in shares of Ingredion by 154.0% during the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after buying an additional 47,225 shares during the period. Sei Investments Co. boosted its position in shares of Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after acquiring an additional 21,619 shares in the last quarter. BNP Paribas acquired a new position in shares of Ingredion in the 1st quarter worth approximately $1,154,000. Empowered Funds LLC bought a new position in shares of Ingredion during the first quarter valued at $1,812,000. Finally, Point72 DIFC Ltd lifted its holdings in Ingredion by 2,629.3% during the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after purchasing an additional 3,681 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,551 shares of company stock valued at $3,550,084. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

INGR has been the topic of several research analyst reports. Oppenheimer increased their target price on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group upped their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets lifted their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.83.

Ingredion Stock Performance

NYSE INGR opened at $135.96 on Thursday. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $138.37. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.22 and a beta of 0.72. The stock has a fifty day simple moving average of $134.43 and a 200 day simple moving average of $123.13.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.34. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.32 EPS. Sell-side analysts expect that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.35%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is currently 32.06%.

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.