Ingredion Incorporated (NYSE:INGR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its holdings in Ingredion Incorporated (NYSE:INGR) by 8.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,622,099 shares of the company’s stock after selling 141,913 shares during the quarter. Pacer Advisors Inc. owned about 2.49% of Ingredion worth $222,925,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingredion by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after acquiring an additional 36,421 shares during the period. Foundry Partners LLC boosted its holdings in shares of Ingredion by 69.3% in the third quarter. Foundry Partners LLC now owns 5,032 shares of the company’s stock valued at $692,000 after acquiring an additional 2,059 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Ingredion in the third quarter valued at approximately $525,000. Advisors Asset Management Inc. boosted its holdings in shares of Ingredion by 11.4% in the third quarter. Advisors Asset Management Inc. now owns 29,153 shares of the company’s stock valued at $4,006,000 after acquiring an additional 2,988 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the third quarter valued at approximately $41,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Up 0.3 %

INGR opened at $142.37 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.28 billion, a P/E ratio of 13.89, a PEG ratio of 1.22 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $100.90 and a 52 week high of $155.44. The business’s fifty day simple moving average is $137.90 and its 200 day simple moving average is $127.17.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a dividend of $0.80 per share. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,070.60. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,178 shares of company stock worth $4,982,857. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on INGR shares. Oppenheimer upped their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets upped their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.17.

About Ingredion

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.