Fulcrum Equity Management Invests $401,000 in Ingredion Incorporated (NYSE:INGR)

Fulcrum Equity Management acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,787 shares of the company’s stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centre Asset Management LLC boosted its position in shares of Ingredion by 37.5% in the 2nd quarter. Centre Asset Management LLC now owns 101,187 shares of the company’s stock valued at $10,721,000 after purchasing an additional 27,594 shares during the period. Aspire Private Capital LLC increased its holdings in shares of Ingredion by 244.1% in the first quarter. Aspire Private Capital LLC now owns 1,218 shares of the company’s stock valued at $124,000 after purchasing an additional 864 shares during the period. Toroso Investments LLC increased its holdings in shares of Ingredion by 5.7% in the first quarter. Toroso Investments LLC now owns 6,396 shares of the company’s stock valued at $651,000 after purchasing an additional 346 shares during the period. Westover Capital Advisors LLC acquired a new stake in shares of Ingredion during the first quarter worth $3,432,000. Finally, JPMorgan Chase & Co. grew its position in Ingredion by 9.7% in the 1st quarter. JPMorgan Chase & Co. now owns 214,201 shares of the company’s stock valued at $21,791,000 after buying an additional 19,024 shares during the last quarter. 84.80% of the stock is owned by institutional investors and hedge funds.

Ingredion Trading Down 0.1 %

NYSE INGR opened at $98.87 on Friday. Ingredion Incorporated has a 12 month low of $78.81 and a 12 month high of $113.46. The company has a 50-day moving average of $104.57 and a 200-day moving average of $104.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 0.98. The company has a market cap of $6.54 billion, a P/E ratio of 11.57 and a beta of 0.79.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 8th. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). Ingredion had a return on equity of 17.63% and a net margin of 6.99%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the firm posted $2.12 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Ingredion Incorporated will post 9.23 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Monday, October 2nd will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, September 29th. This is a boost from Ingredion’s previous quarterly dividend of $0.71. Ingredion’s dividend payout ratio is currently 33.14%.

Analysts Set New Price Targets

Several brokerages have commented on INGR. Barclays decreased their target price on shares of Ingredion from $120.00 to $118.00 in a research report on Thursday, June 1st. BMO Capital Markets cut their price target on Ingredion from $125.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, August 9th. StockNews.com assumed coverage on Ingredion in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $130.00 price target on shares of Ingredion in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.20.

Insiders Place Their Bets

In other Ingredion news, SVP David Eric Seip bought 3,000 shares of Ingredion stock in a transaction dated Tuesday, September 5th. The stock was bought at an average cost of $98.50 per share, for a total transaction of $295,500.00. Following the purchase, the senior vice president now owns 18,035 shares in the company, valued at approximately $1,776,447.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ingredion news, SVP David Eric Seip bought 3,000 shares of Ingredion stock in a transaction dated Tuesday, September 5th. The stock was bought at an average cost of $98.50 per share, for a total transaction of $295,500.00. Following the purchase, the senior vice president now owns 18,035 shares in the company, valued at approximately $1,776,447.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 2,779 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $110.10, for a total value of $305,967.90. Following the transaction, the senior vice president now owns 20,246 shares of the company’s stock, valued at $2,229,084.60. The disclosure for this sale can be found here. 1.68% of the stock is owned by company insiders.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces 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.