STAR Financial Bank Reduces Stock Holdings in Ingredion Incorporated (NYSE:INGR)

STAR Financial Bank lowered its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 18.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,916 shares of the company’s stock after selling 665 shares during the quarter. STAR Financial Bank’s holdings in Ingredion were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in INGR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion during the 2nd quarter valued at about $26,000. Jones Financial Companies Lllp bought a new stake in Ingredion during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares in the last quarter. Family Firm Inc. purchased a new position in Ingredion during the second quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ingredion in the second quarter worth approximately $36,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction on Friday, August 30th. The stock was 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 directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 1,300 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,595.90. The disclosure for this sale can be found here. Insiders sold 26,045 shares of company stock worth $3,482,491 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $135.49 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The firm has a market cap of $8.81 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.24 and a beta of 0.73. The firm’s 50 day simple moving average is $124.81 and its 200-day simple moving average is $118.98. Ingredion Incorporated has a one year low of $89.54 and a one year high of $137.21.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.32 EPS. As a group, equities analysts predict that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 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.