Conscious Wealth Investments LLC Increases Position in Ingredion Incorporated (NYSE:INGR)

Conscious Wealth Investments LLC increased its position in Ingredion Incorporated (NYSE:INGR) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,165 shares of the company’s stock after acquiring an additional 106 shares during the period. Ingredion makes up about 2.1% of Conscious Wealth Investments LLC’s portfolio, making the stock its 22nd biggest holding. Conscious Wealth Investments LLC’s holdings in Ingredion were worth $2,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Edgestream Partners L.P. purchased a new stake in shares of Ingredion in the 2nd quarter valued at $241,000. Renaissance Technologies LLC lifted its position in Ingredion by 154.0% during the second quarter. Renaissance Technologies LLC now owns 41,405 shares of the company’s stock valued at $4,749,000 after purchasing an additional 25,105 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after purchasing an additional 125,543 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Ingredion by 47.2% during the 2nd quarter. Parallel Advisors LLC now owns 6,539 shares of the company’s stock valued at $750,000 after buying an additional 2,098 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Ingredion by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 26,399 shares of the company’s stock valued at $3,028,000 after buying an additional 776 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,045 shares of company stock worth $3,482,491. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR opened at $134.70 on Tuesday. The company has a fifty day moving average of $127.02 and a two-hundred day moving average of $119.65. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $137.21. The stock has a market capitalization of $8.76 billion, a PE ratio of 13.50, a P/E/G ratio of 1.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company posted $2.32 EPS. Ingredion’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, research analysts forecast that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid 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 2.38%. The ex-dividend date is Tuesday, October 1st. Ingredion’s dividend payout ratio is currently 31.26%.

Wall Street Analysts Forecast Growth

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

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.