Ingredion Incorporated (NYSE:INGR) Position Lessened by Navellier & Associates Inc.

Navellier & Associates Inc. decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 4.2% in the third quarter, Holdings Channel.com reports. The firm owned 28,536 shares of the company’s stock after selling 1,257 shares during the period. Navellier & Associates Inc.’s holdings in Ingredion were worth $3,922,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion during the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion in the second quarter worth $33,000. Family Firm Inc. acquired a new position in Ingredion during the second quarter worth $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 0.3 %

Shares of INGR opened at $142.37 on Thursday. The stock’s 50-day moving average price is $137.90 and its 200 day moving average price is $127.17. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12-month low of $100.90 and a 12-month high of $155.44. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.22 and a beta of 0.73.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 EPS. As a group, research analysts predict that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion Increases Dividend

The business 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 positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.25%. Ingredion’s payout ratio is currently 31.22%.

Analysts Set New Price Targets

A number of research analysts have recently commented on INGR shares. Oppenheimer increased their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays lifted their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Insiders Place Their Bets

In related news, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred 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 sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,178 shares of company stock worth $4,982,857 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.