Coston McIsaac & Partners Acquires 713 Shares of Ingredion Incorporated (NYSE:INGR)

Coston McIsaac & Partners increased its holdings in Ingredion Incorporated (NYSE:INGR) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,960 shares of the company’s stock after acquiring an additional 713 shares during the quarter. Ingredion comprises about 1.9% of Coston McIsaac & Partners’ investment portfolio, making the stock its 14th biggest holding. Coston McIsaac & Partners owned about 0.08% of Ingredion worth $5,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new stake in Ingredion during the 1st quarter valued at about $268,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ingredion by 4.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,452 shares of the company’s stock valued at $1,221,000 after purchasing an additional 487 shares during the last quarter. Signet Financial Management LLC purchased a new position in shares of Ingredion during the first quarter valued at approximately $476,000. Atlas Capital Advisors LLC raised its holdings in shares of Ingredion by 197.8% during the first quarter. Atlas Capital Advisors LLC now owns 2,135 shares of the company’s stock valued at $249,000 after purchasing an additional 1,418 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Ingredion during the first quarter valued at approximately $3,493,000. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INGR has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. Barclays upped their target price on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.17.

Insider Activity

In other news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the sale, the senior vice president now owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the sale, the senior vice president now owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the transaction, the chief financial officer now directly owns 42,833 shares in the company, valued at approximately $5,214,489.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,359 shares of company stock valued at $4,515,644. 1.80% of the stock is currently owned by company insiders.

Ingredion Price Performance

Ingredion stock traded down $0.11 during mid-day trading on Friday, reaching $114.70. 520,390 shares of the company’s stock traded hands, compared to its average volume of 425,305. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.07 and a beta of 0.74. The stock has a 50 day moving average of $116.22 and a two-hundred day moving average of $113.51. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $122.18.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.08. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. Ingredion’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.80 earnings per share. Equities analysts forecast that Ingredion Incorporated will post 9.76 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, July 1st. Ingredion’s dividend payout ratio is currently 31.26%.

Ingredion Company 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.