Grace & White Inc. NY Trims Position in Ingredion Incorporated (NYSE:INGR)

Grace & White Inc. NY trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,566 shares of the company’s stock after selling 1,925 shares during the quarter. Ingredion makes up 3.6% of Grace & White Inc. NY’s portfolio, making the stock its 5th biggest position. Grace & White Inc. NY owned 0.22% of Ingredion worth $20,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ingredion in the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ingredion in the 2nd quarter worth about $33,000. Family Firm Inc. bought a new position in shares of Ingredion in the 2nd quarter worth about $36,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ingredion in the 2nd quarter worth about $36,000. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INGR has been the topic of a number of recent research reports. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer increased their price objective on shares of Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group increased 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. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $122.00 to $145.00 in a report on Friday, August 9th. Finally, BMO Capital Markets increased 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and an average price target of $138.83.

Ingredion Stock Down 0.2 %

Ingredion stock opened at $133.94 on Tuesday. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.22 and a beta of 0.72. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $134.23 and its two-hundred day moving average price is $122.90. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $138.37.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.53 by $0.34. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the company earned $2.32 EPS. On average, analysts expect that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.39%. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,551 shares of company stock valued at $3,550,084. Company insiders own 1.80% of the company’s stock.

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.