Foundry Partners LLC Purchases 2,059 Shares of Ingredion Incorporated (NYSE:INGR)

Foundry Partners LLC increased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 69.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,032 shares of the company’s stock after buying an additional 2,059 shares during the quarter. Foundry Partners LLC’s holdings in Ingredion were worth $692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in shares of Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after buying an additional 85 shares during the period. Seelaus Asset Management LLC boosted its position in Ingredion by 3.3% during the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after acquiring an additional 105 shares during the last quarter. Conscious Wealth Investments LLC grew its stake in shares of Ingredion by 0.4% during the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after acquiring an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 118 shares during the last quarter. Finally, Delphi Management Inc. MA raised its holdings in shares of Ingredion by 0.8% in the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after purchasing an additional 123 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on INGR. BMO Capital Markets raised their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Stock Performance

Shares of NYSE INGR opened at $146.47 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.54 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.22 and a beta of 0.73. Ingredion Incorporated has a 12 month low of $100.90 and a 12 month high of $155.44. The stock has a 50 day moving average of $138.09 and a 200-day moving average of $127.29.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The firm 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 company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 earnings per share. As a group, equities research analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.18%. Ingredion’s dividend payout ratio (DPR) is 31.22%.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,178 shares of company stock worth $4,982,857 over the last quarter. Company insiders own 1.80% of the company’s stock.

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.