Hanson & Doremus Investment Management Sells 658 Shares of Ingredion Incorporated (NYSE:INGR)

Hanson & Doremus Investment Management cut its holdings in Ingredion Incorporated (NYSE:INGR) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,939 shares of the company’s stock after selling 658 shares during the period. Hanson & Doremus Investment Management’s holdings in Ingredion were worth $1,505,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ingredion in the 2nd quarter valued at $33,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the third quarter valued at about $41,000. Versant Capital Management Inc increased its position in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after acquiring an additional 362 shares during the last quarter. Concord Wealth Partners raised its holdings in Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after acquiring an additional 223 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Ingredion during the third quarter valued at approximately $86,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,692 shares of company stock valued at $9,634,868. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the topic of a number of analyst reports. Oppenheimer upped their price objective on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Stephens raised shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. UBS Group increased their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets boosted their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays raised their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Ingredion Trading Up 1.2 %

INGR stock opened at $136.68 on Thursday. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.10 and a beta of 0.75. The company has a fifty day moving average price of $139.86 and a two-hundred day moving average price of $135.52. Ingredion Incorporated has a one year low of $107.40 and a one year high of $155.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 EPS. Equities analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. Ingredion’s dividend payout ratio (DPR) is currently 31.22%.

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.