Pacer Advisors Inc. Acquires 268,389 Shares of Ingredion Incorporated (NYSE:INGR)

Pacer Advisors Inc. boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,890,488 shares of the company’s stock after purchasing an additional 268,389 shares during the period. Pacer Advisors Inc.’s holdings in Ingredion were worth $260,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ingredion during the second quarter valued at about $33,000. Prospera Private Wealth LLC purchased a new position in shares of Ingredion during the 3rd quarter worth approximately $41,000. Versant Capital Management Inc raised its position in shares of Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after acquiring an additional 362 shares in the last quarter. Concord Wealth Partners lifted its stake in shares of Ingredion by 82.6% in the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 223 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Ingredion during the third quarter valued at approximately $86,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 0.8 %

NYSE:INGR opened at $135.60 on Monday. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.10 and a beta of 0.75. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average price is $140.16 and its 200-day moving average price is $135.22. Ingredion Incorporated has a 52 week low of $107.37 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $2.33 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 31.22%.

Analyst Ratings Changes

A number of equities analysts have issued reports on INGR shares. Oppenheimer increased their price objective on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group lifted their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays upped their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Finally, Stephens raised Ingredion to a “hold” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.17.

Insider Buying and Selling at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. The trade was a 13.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,692 shares of company stock worth $9,634,868. 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.