W.H. Cornerstone Investments Inc. Sells 828 Shares of Ingredion Incorporated (NYSE:INGR)

W.H. Cornerstone Investments Inc. trimmed its position in shares of Ingredion Incorporated (NYSE:INGR) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,142 shares of the company’s stock after selling 828 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Ingredion were worth $981,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in shares of Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after purchasing an additional 47,225 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Ingredion by 23.4% during the first quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after acquiring an additional 21,619 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Ingredion in the 1st quarter worth about $1,812,000. Point72 DIFC Ltd boosted its stake in Ingredion by 2,629.3% in the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after purchasing an additional 3,681 shares in the last quarter. Finally, Equity Investment Corp grew its position in Ingredion by 2.9% during the 1st quarter. Equity Investment Corp now owns 952,110 shares of the company’s stock valued at $111,254,000 after purchasing an additional 27,062 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,356 shares of company stock valued at $3,400,709 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Trading Up 0.2 %

Shares of INGR stock opened at $134.04 on Tuesday. The firm has a fifty day moving average price of $134.76 and a 200-day moving average price of $124.46. Ingredion Incorporated has a 1 year low of $95.07 and a 1 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 has a market cap of $8.72 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.21 and a beta of 0.73.

Ingredion (NYSE:INGR) last announced its quarterly earnings data 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 net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company posted $2.32 earnings per share. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, equities analysts predict that Ingredion Incorporated will post 10.05 earnings per share for the current year.

Ingredion Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INGR. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $122.00 to $145.00 in a research report on Friday, August 9th. Oppenheimer increased their price objective on Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. UBS Group raised their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.83.

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.