Sanibel Captiva Trust Company Inc. Buys New Shares in Ingredion Incorporated (NYSE:INGR)

Sanibel Captiva Trust Company Inc. bought a new stake in Ingredion Incorporated (NYSE:INGR) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 1,596 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds have also made changes to their positions in INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion during the second quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion during the second quarter worth about $33,000. Family Firm Inc. acquired a new stake in shares of Ingredion during the second quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ingredion during the second quarter worth approximately $36,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $122.00 to $145.00 in a report on Friday, August 9th. UBS Group raised their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Oppenheimer raised their price objective on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.33.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,046 shares of company stock valued at $3,482,626. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of Ingredion stock opened at $133.42 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The firm has a market cap of $8.68 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.22 and a beta of 0.72. The firm has a 50 day simple moving average of $133.05 and a 200 day simple moving average of $121.95. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. The business 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 last year, the business posted $2.32 earnings per share. Sell-side analysts predict that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.72%.

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.