Ingredion Incorporated $INGR Stock Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in Ingredion Incorporated (NYSE:INGR) by 13.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 266,544 shares of the company’s stock after acquiring an additional 32,144 shares during the quarter. ProShare Advisors LLC’s holdings in Ingredion were worth $25,538,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of INGR. Glenview Trust Co increased its position in Ingredion by 4.1% during the third quarter. Glenview Trust Co now owns 3,034 shares of the company’s stock worth $291,000 after acquiring an additional 120 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Ingredion by 0.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 24,795 shares of the company’s stock valued at $2,376,000 after purchasing an additional 141 shares during the period. Lazard Asset Management LLC boosted its holdings in Ingredion by 0.4% in the 1st quarter. Lazard Asset Management LLC now owns 32,525 shares of the company’s stock valued at $3,664,000 after purchasing an additional 143 shares during the period. Net Worth Advisory Group boosted its holdings in Ingredion by 2.9% in the 3rd quarter. Net Worth Advisory Group now owns 5,320 shares of the company’s stock valued at $505,000 after purchasing an additional 148 shares during the period. Finally, Root Financial Partners LLC grew its position in shares of Ingredion by 83.7% during the 1st quarter. Root Financial Partners LLC now owns 371 shares of the company’s stock worth $42,000 after purchasing an additional 169 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Activity at Ingredion

In other news, Director David Fischer sold 1,662 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $102.31, for a total transaction of $170,039.22. Following the completion of the sale, the director owned 19,930 shares of the company’s stock, valued at approximately $2,039,038.30. This represents a 7.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on INGR shares. UBS Group lowered their target price on shares of Ingredion from $108.00 to $104.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Zacks Research upgraded Ingredion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings raised Ingredion from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, Barclays reduced their price target on Ingredion from $118.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Hold” and an average target price of $120.29.

Ingredion Stock Up 2.0%

INGR stock opened at $98.89 on Tuesday. Ingredion Incorporated has a 52 week low of $93.30 and a 52 week high of $123.49. The business has a 50-day simple moving average of $98.37 and a 200 day simple moving average of $105.67. The company has a quick ratio of 1.92, a current ratio of 2.80 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.24 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.81 and a beta of 0.65.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. Ingredion had a net margin of 8.21% and a return on equity of 15.40%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.87 earnings per share. Sell-side analysts anticipate that Ingredion Incorporated will post 10.62 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Thursday, October 1st were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.82. Ingredion’s dividend payout ratio is presently 36.21%.

Ingredion Company Profile

Ingredion Incorporated (NYSE: INGR) is a global ingredient solutions provider that develops and produces starches, sweeteners, texturizers, fibers, plant-based proteins and other specialty ingredients. The company processes plant-based raw materials, including corn, tapioca, potato, rice and other grains, into ingredients used by manufacturers across a range of industries.

Ingredion’s products support food and beverage applications such as bakery products, dairy and alternative dairy, confectionery, beverages and prepared foods.