Murphy Pohlad Asset Management LLC Sells 185 Shares of Ingredion Incorporated (NYSE:INGR)

Murphy Pohlad Asset Management LLC lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,679 shares of the company’s stock after selling 185 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Ingredion were worth $1,193,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after acquiring an additional 846,967 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Ingredion by 177.8% in the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after acquiring an additional 253,949 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after acquiring an additional 174,495 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after acquiring an additional 125,543 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Ingredion by 43.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after acquiring an additional 123,406 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Up 0.8 %

Ingredion stock opened at $133.77 on Friday. Ingredion Incorporated has a twelve month low of $93.26 and a twelve month high of $138.37. The firm has a 50 day moving average price of $134.74 and a 200-day moving average price of $124.13. The company has a market capitalization of $8.70 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.21 and a beta of 0.72. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $2.32 EPS. As a group, equities analysts predict that Ingredion Incorporated will post 10.05 EPS for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.39%. Ingredion’s dividend payout ratio (DPR) is 32.72%.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,356 shares of company stock valued at $3,400,709. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on INGR. UBS Group increased their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price objective on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer increased their price objective on shares of Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $138.83.

About Ingredion

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.