Janney Montgomery Scott LLC Has $2.51 Million Position in Ingredion Incorporated (NYSE:INGR)

Janney Montgomery Scott LLC grew its stake in shares of Ingredion Incorporated (NYSE:INGR) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,102 shares of the company’s stock after acquiring an additional 1,618 shares during the period. Janney Montgomery Scott LLC’s holdings in Ingredion were worth $2,507,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Ingredion by 2.3% in the third quarter. Vanguard Group Inc. now owns 7,345,630 shares of the company’s stock valued at $722,810,000 after purchasing an additional 161,922 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ingredion by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,471,587 shares of the company’s stock valued at $268,243,000 after buying an additional 82,599 shares in the last quarter. Equity Investment Corp increased its holdings in Ingredion by 1.4% in the third quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock worth $89,424,000 after buying an additional 12,427 shares during the last quarter. Nordea Investment Management AB raised its position in Ingredion by 73.0% during the third quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock valued at $74,019,000 after acquiring an additional 317,509 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ingredion by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 659,532 shares of the company’s stock valued at $71,579,000 after acquiring an additional 8,159 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and increased their target price for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. BMO Capital Markets boosted their price target on Ingredion from $117.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Barclays increased their price objective on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, Stephens restated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.17.

Insiders Place Their Bets

In other news, VP Davida Marie Gable sold 1,968 shares of the business’s stock in a transaction on 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 owns 1,723 shares in the company, valued at approximately $202,245.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the transaction, the vice president now owns 1,723 shares in the company, valued at approximately $202,245.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 54,581 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the sale, 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 sold 67,410 shares of company stock worth $7,946,056 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Up 0.0 %

INGR opened at $117.66 on Friday. The company has a market capitalization of $7.72 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.10 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39. The firm’s fifty day moving average price is $115.78 and its two-hundred day moving average price is $111.39. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $122.18.

Ingredion (NYSE:INGR) last posted its earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.08. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $2.80 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, analysts anticipate that Ingredion Incorporated will post 9.76 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 1st will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, July 1st. Ingredion’s dividend payout ratio (DPR) is 31.26%.

Ingredion 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.