Wilmington Savings Fund Society FSB Makes New $149,000 Investment in Ingredion Incorporated (NYSE:INGR)

Wilmington Savings Fund Society FSB bought a new position in Ingredion Incorporated (NYSE:INGR) in the third quarter, HoldingsChannel.com reports. The fund bought 1,085 shares of the company’s stock, valued at approximately $149,000.

A number of other large investors also recently modified their holdings of INGR. Blue Trust Inc. lifted its stake in shares of Ingredion by 298.7% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $69,000 after acquiring an additional 445 shares during the period. Raymond James & Associates lifted its position in Ingredion by 6.7% during the 2nd quarter. Raymond James & Associates now owns 206,798 shares of the company’s stock valued at $23,720,000 after purchasing an additional 12,918 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Ingredion by 57.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,616 shares of the company’s stock valued at $415,000 after purchasing an additional 1,326 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Ingredion during the 2nd quarter worth approximately $245,000. Finally, &PARTNERS bought a new stake in shares of Ingredion during the second quarter worth approximately $285,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Performance

INGR stock opened at $138.78 on Friday. Ingredion Incorporated has a 1-year low of $106.03 and a 1-year high of $155.44. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.04 billion, a PE ratio of 13.54, a P/E/G ratio of 1.24 and a beta of 0.74. The business’s 50-day moving average price is $142.19 and its two-hundred day moving average price is $131.11.

Ingredion (NYSE:INGR) last released its quarterly earnings data 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 return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $2.33 EPS. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, research analysts forecast that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion’s dividend payout ratio is 31.22%.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % 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, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,198 shares of company stock worth $9,702,461 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INGR. Oppenheimer raised their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. 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. Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. Finally, Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.17.

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.