Grace & White Inc. NY Sells 1,925 Shares of Ingredion Incorporated (NYSE:INGR)

Grace & White Inc. NY cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1.3% in the third quarter, HoldingsChannel reports. The fund owned 146,566 shares of the company’s stock after selling 1,925 shares during the quarter. Ingredion accounts for 3.6% of Grace & White Inc. NY’s portfolio, making the stock its 5th biggest holding. Grace & White Inc. NY’s holdings in Ingredion were worth $20,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raleigh Capital Management Inc. grew its holdings in shares of Ingredion by 19.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 945 shares of the company’s stock valued at $130,000 after acquiring an additional 157 shares in the last quarter. OLD National Bancorp IN acquired a new stake in Ingredion during the third quarter valued at $237,000. Means Investment CO. Inc. purchased a new position in Ingredion in the third quarter valued at about $204,000. Raymond James & Associates increased its position in Ingredion by 11.3% in the 3rd quarter. Raymond James & Associates now owns 230,194 shares of the company’s stock worth $31,636,000 after purchasing an additional 23,396 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Ingredion by 126.1% during the 3rd quarter. Blue Trust Inc. now owns 1,343 shares of the company’s stock worth $185,000 after purchasing an additional 749 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INGR. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $122.00 to $145.00 in a report on Friday, August 9th. BMO Capital Markets lifted 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. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. UBS Group lifted their price target on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Oppenheimer boosted their target price on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average target price of $138.83.

Ingredion Stock Down 0.2 %

INGR opened at $133.94 on Tuesday. The business has a 50 day moving average price of $134.23 and a 200 day moving average price of $122.90. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $138.37. 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 $8.79 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted 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 firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 EPS. Research analysts forecast that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be given a $0.80 dividend. 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%. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s payout ratio is currently 32.06%.

Insiders Place Their Bets

In other Ingredion news, 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 value of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now owns 15,906 shares in the company, valued at approximately $1,988,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,551 shares of company stock valued at $3,550,084 in the last three months. 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.