UNIVEST FINANCIAL Corp Buys 333 Shares of Ingredion Incorporated $INGR

UNIVEST FINANCIAL Corp lifted its stake in Ingredion Incorporated (NYSE:INGR) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,046 shares of the company’s stock after buying an additional 333 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Ingredion were worth $1,498,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in INGR. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Ingredion by 5.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,443 shares of the company’s stock valued at $736,000 after buying an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ingredion by 0.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,356 shares of the company’s stock valued at $2,343,000 after buying an additional 142 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Ingredion in the first quarter valued at about $646,000. KBC Group NV lifted its stake in Ingredion by 4.3% during the first quarter. KBC Group NV now owns 2,624 shares of the company’s stock worth $355,000 after purchasing an additional 109 shares during the period. Finally, Rossby Financial LCC bought a new position in Ingredion during the first quarter worth about $130,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the transaction, the chief executive officer owned 50,129 shares of the company’s stock, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 37,137 shares of company stock worth $4,700,163 over the last three months. 2.30% of the stock is owned by company insiders.

Ingredion Stock Down 0.4%

Shares of INGR opened at $115.21 on Friday. The company has a market capitalization of $7.39 billion, a P/E ratio of 11.24, a PEG ratio of 0.95 and a beta of 0.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. Ingredion Incorporated has a one year low of $115.14 and a one year high of $155.44. The business’s 50 day simple moving average is $123.08 and its 200-day simple moving average is $130.22.

Ingredion (NYSE:INGR) last announced its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.Ingredion’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.87 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s dividend payout ratio (DPR) is presently 32.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on INGR shares. Weiss Ratings cut shares of Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. UBS Group cut their price target on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Oppenheimer set a $136.00 price target on shares of Ingredion in a research note on Wednesday, October 22nd. Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Finally, Zacks Research cut shares of Ingredion from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $143.40.

Ingredion Company 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.