Raymond James Financial Services Advisors Inc. Increases Stock Position in Ingredion Incorporated (NYSE:INGR)

Raymond James Financial Services Advisors Inc. increased its position in Ingredion Incorporated (NYSE:INGR) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,668 shares of the company’s stock after purchasing an additional 664 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ingredion were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Ingredion in the second quarter valued at $30,000. Cary Street Partners Investment Advisory LLC boosted its stake in Ingredion by 63.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after acquiring an additional 147 shares during the last quarter. Allworth Financial LP boosted its stake in Ingredion by 414.1% during the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $39,000 after acquiring an additional 323 shares during the last quarter. IFP Advisors Inc boosted its stake in Ingredion by 33.7% during the 3rd quarter. IFP Advisors Inc now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 122 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Ingredion by 29.1% during the 3rd quarter. Geneos Wealth Management Inc. now owns 493 shares of the company’s stock valued at $49,000 after acquiring an additional 111 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INGR has been the topic of a number of research analyst reports. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research note on Wednesday, February 7th. Barclays increased their price objective on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and raised their price target for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. Finally, StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average price target of $126.67.

Ingredion Trading Up 1.2 %

Shares of NYSE:INGR opened at $113.67 on Friday. The company has a market cap of $7.46 billion, a PE ratio of 11.84, a P/E/G ratio of 1.05 and a beta of 0.81. The company’s 50-day moving average price is $114.93 and its 200 day moving average price is $107.31. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $118.83. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. Ingredion’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. Sell-side analysts anticipate that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Monday, April 1st will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.74%. Ingredion’s dividend payout ratio is presently 32.50%.

Insider Activity at Ingredion

In related news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the sale, the vice president now directly owns 1,723 shares in the company, valued at approximately $202,245.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the transaction, the vice president now owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the transaction, the chief executive officer now directly owns 99,246 shares in the company, valued at approximately $11,635,601.04. The disclosure for this sale can be found here. Insiders have sold a total of 58,921 shares of company stock worth $6,903,045 in the last ninety days. 1.80% of the stock is owned by insiders.

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.