Aspire Private Capital LLC Buys 571 Shares of Ingredion Incorporated (NYSE:INGR)

Aspire Private Capital LLC boosted its stake in Ingredion Incorporated (NYSE:INGR) by 21.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,213 shares of the company’s stock after acquiring an additional 571 shares during the period. Aspire Private Capital LLC’s holdings in Ingredion were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INGR. Norges Bank acquired a new position in shares of Ingredion in the 4th quarter valued at about $82,272,000. Vanguard Group Inc. increased its stake in shares of Ingredion by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock valued at $843,617,000 after acquiring an additional 427,496 shares in the last quarter. Morningstar Investment Services LLC lifted its position in shares of Ingredion by 98.5% during the 4th quarter. Morningstar Investment Services LLC now owns 393,101 shares of the company’s stock valued at $42,789,000 after acquiring an additional 195,106 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Ingredion by 43.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after acquiring an additional 123,406 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Ingredion by 207.9% in the first quarter. Van ECK Associates Corp now owns 170,910 shares of the company’s stock worth $19,971,000 after purchasing an additional 115,399 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the sale, the chief executive officer now directly owns 52,197 shares in the company, valued at approximately $6,073,642.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the completion of the transaction, the chief executive officer now directly owns 52,197 shares in the company, valued at approximately $6,073,642.92. The disclosure for this sale can be found here. Insiders have sold 28,695 shares of company stock valued at $3,349,275 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

INGR has been the topic of several recent research reports. Oppenheimer increased their price target on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets boosted their price target 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. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $122.00 to $145.00 in a report on Friday. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and a consensus price target of $135.33.

Ingredion Stock Performance

INGR stock traded down $1.91 during mid-day trading on Monday, hitting $128.26. The company had a trading volume of 382,171 shares, compared to its average volume of 394,023. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44. The firm has a market cap of $8.42 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $130.66. The stock’s fifty day moving average price is $117.43 and its two-hundred day moving average price is $115.76.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $2.32 earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, analysts forecast that Ingredion Incorporated will post 9.7 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 1st were paid a $0.78 dividend. The ex-dividend date was Monday, July 1st. This represents a $3.12 dividend on an annualized basis and a yield of 2.43%. Ingredion’s dividend payout ratio is 31.26%.

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.