Belmont Capital LLC Acquires Shares of 1,169 Ingredion Incorporated (NYSE:INGR)

Belmont Capital LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,169 shares of the company’s stock, valued at approximately $161,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of Ingredion in the third quarter valued at about $86,000. AMG National Trust Bank raised its holdings in Ingredion by 3.4% in the 3rd quarter. AMG National Trust Bank now owns 11,220 shares of the company’s stock valued at $1,542,000 after acquiring an additional 364 shares during the last quarter. Chesapeake Capital Corp IL lifted its stake in Ingredion by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 6,121 shares of the company’s stock worth $841,000 after purchasing an additional 1,335 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Ingredion by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 42,373 shares of the company’s stock worth $5,823,000 after purchasing an additional 577 shares during the last quarter. Finally, Seelaus Asset Management LLC grew its position in shares of Ingredion by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after purchasing an additional 105 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $138.84 on Tuesday. The firm has a market capitalization of $9.05 billion, a PE ratio of 13.55, a P/E/G ratio of 1.21 and a beta of 0.73. Ingredion Incorporated has a 12 month low of $100.90 and a 12 month high of $155.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The business has a 50-day moving average of $137.55 and a two-hundred day moving average of $126.70.

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

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. Ingredion’s payout ratio is 31.22%.

Analysts Set New Price Targets

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

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. This represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,178 shares of company stock valued at $4,982,857. Corporate insiders own 1.80% of the company’s stock.

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.