Oppenheimer & Co. Inc. Acquires 670 Shares of Ingredion Incorporated (NYSE:INGR)

Oppenheimer & Co. Inc. boosted its holdings in Ingredion Incorporated (NYSE:INGR) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,396 shares of the company’s stock after purchasing an additional 670 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ingredion were worth $2,940,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Ingredion by 124.8% during the third quarter. Victory Capital Management Inc. now owns 61,575 shares of the company’s stock worth $8,462,000 after acquiring an additional 34,189 shares during the last quarter. WCM Investment Management LLC bought a new position in shares of Ingredion during the 3rd quarter valued at about $303,000. Versor Investments LP grew its position in shares of Ingredion by 52.8% during the third quarter. Versor Investments LP now owns 8,800 shares of the company’s stock valued at $1,209,000 after purchasing an additional 3,039 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Ingredion by 4.8% in the third quarter. Atria Investments Inc now owns 7,028 shares of the company’s stock worth $966,000 after purchasing an additional 323 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Ingredion by 48.4% in the third quarter. Assetmark Inc. now owns 1,325 shares of the company’s stock worth $182,000 after buying an additional 432 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated 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 owns 52,530 shares in the company, valued at $7,040,595.90. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,056 shares of company stock valued at $4,121,736. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INGR. Barclays raised their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Oppenheimer boosted their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One 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 has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Ingredion Trading Down 5.6 %

INGR stock opened at $140.79 on Friday. Ingredion Incorporated has a twelve month low of $100.90 and a twelve month high of $155.44. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. 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’s fifty day simple moving average is $137.44 and its two-hundred day simple moving average is $126.35.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion for 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%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. As a group, analysts anticipate that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.27%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 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.