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

Oppenheimer & Co. Inc. increased its holdings in Ingredion Incorporated (NYSE:INGR) by 3.2% in the third quarter, HoldingsChannel.com reports. The institutional investor 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 hedge funds also recently bought and sold shares of the stock. Signaturefd LLC raised its position in shares of Ingredion by 5.7% in the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after acquiring an additional 85 shares in the last quarter. Conscious Wealth Investments LLC lifted its position in shares of Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after buying an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Delphi Management Inc. MA raised its stake in shares of Ingredion by 0.8% during the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in Ingredion by 1.1% during the third quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock valued at $1,728,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 5.6 %

Shares of NYSE:INGR opened at $140.79 on Friday. The business has a 50-day moving average price of $137.44 and a 200-day moving average price of $126.35. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.29 and a beta of 0.73. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. Equities analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Activity

In related news, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,056 shares of company stock valued at $4,121,736 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on INGR. BMO Capital Markets lifted their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer raised their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.17.

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.