Murphy Pohlad Asset Management LLC Decreases Position in Ingredion Incorporated (NYSE:INGR)

Murphy Pohlad Asset Management LLC lessened its position in Ingredion Incorporated (NYSE:INGR) by 2.1% during the third quarter, Holdings Channel.com reports. The fund owned 8,679 shares of the company’s stock after selling 185 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Ingredion were worth $1,193,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ingredion in the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion in the 2nd quarter worth $33,000. Family Firm Inc. bought a new stake in shares of Ingredion during the 2nd quarter valued at about $36,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ingredion during the 2nd quarter valued at about $36,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 0.8 %

NYSE:INGR opened at $133.77 on Friday. Ingredion Incorporated has a one year low of $93.26 and a one year high of $138.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The company’s 50-day simple moving average is $134.74 and its 200 day simple moving average is $124.13. The firm has a market capitalization of $8.70 billion, a P/E ratio of 13.68, a PEG ratio of 1.21 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted 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. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $2.32 earnings per share. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, analysts forecast that Ingredion Incorporated will post 10.05 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.39%. Ingredion’s payout ratio is 32.72%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ingredion news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,356 shares of company stock valued at $3,400,709. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INGR shares. 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 lifted their target price 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. UBS Group lifted their target price 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. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $122.00 to $145.00 in a research note on Friday, August 9th. Finally, Oppenheimer lifted their target price 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.83.

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.