STAR Financial Bank Sells 175 Shares of Ingredion Incorporated (NYSE:INGR)

STAR Financial Bank decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,987 shares of the company’s stock after selling 175 shares during the period. STAR Financial Bank’s holdings in Ingredion were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INGR. Alpine Bank Wealth Management acquired a new stake in Ingredion during the 1st quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after purchasing an additional 196 shares during the period. Ameriflex Group Inc. acquired a new position in Ingredion in the 4th quarter worth $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after buying an additional 79 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Activity

In other news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president owned 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Ingredion Price Performance

INGR stock opened at $133.16 on Friday. The company has a fifty day simple moving average of $137.35 and a two-hundred day simple moving average of $133.70. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $8.56 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 1.08 and a beta of 0.72. Ingredion Incorporated has a 52 week low of $117.49 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion’s dividend payout ratio is currently 33.76%.

Analysts Set New Price Targets

A number of brokerages have issued reports on INGR. UBS Group increased their target price on shares of Ingredion from $149.00 to $151.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Oppenheimer cut their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.40.

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.