Seelaus Asset Management LLC Grows Stock Position in Ingredion Incorporated (NYSE:INGR)

Seelaus Asset Management LLC boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 3.3% in the third quarter, HoldingsChannel.com reports. The fund owned 3,285 shares of the company’s stock after buying an additional 105 shares during the quarter. Seelaus Asset Management LLC’s holdings in Ingredion were worth $451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion in the second quarter valued at $33,000. Family Firm Inc. purchased a new stake in Ingredion during the 2nd quarter worth about $36,000. Finally, International Assets Investment Management LLC acquired a new position in Ingredion in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 5.6 %

NYSE INGR opened at $140.79 on Friday. The company’s 50 day moving average price is $137.44 and its 200 day moving average price is $126.35. Ingredion Incorporated has a one year low of $100.90 and a one year high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The firm has a market capitalization 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 (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. On average, sell-side analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.80 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.27%. Ingredion’s payout ratio is 31.22%.

Insider Activity

In related news, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction on 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 in the company, valued at $7,040,070.60. This represents a 1.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,056 shares of company stock worth $4,121,736. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Oppenheimer lifted 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. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets raised their price objective on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays raised their price target on 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 MarketBeat, Ingredion currently has an average 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.