The Manufacturers Life Insurance Company Raises Stake in Ingredion Incorporated (NYSE:INGR)

The Manufacturers Life Insurance Company increased its stake in Ingredion Incorporated (NYSE:INGRFree Report) by 18.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 117,830 shares of the company’s stock after buying an additional 17,941 shares during the quarter. The Manufacturers Life Insurance Company owned 0.18% of Ingredion worth $12,788,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INGR. Swiss National Bank increased its position in shares of Ingredion by 1.0% during the third quarter. Swiss National Bank now owns 145,100 shares of the company’s stock valued at $14,278,000 after buying an additional 1,500 shares during the period. Janney Montgomery Scott LLC grew its position in Ingredion by 1.9% during the third quarter. Janney Montgomery Scott LLC now owns 21,484 shares of the company’s stock valued at $2,114,000 after acquiring an additional 391 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ingredion by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 651,373 shares of the company’s stock valued at $64,095,000 after purchasing an additional 16,779 shares during the period. Van ECK Associates Corp boosted its stake in shares of Ingredion by 58.7% during the third quarter. Van ECK Associates Corp now owns 35,685 shares of the company’s stock valued at $3,511,000 after purchasing an additional 13,196 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Ingredion by 5.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,456 shares of the company’s stock valued at $734,000 after purchasing an additional 385 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ingredion news, CFO James D. Gray sold 8,490 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the transaction, the chief financial officer now owns 42,833 shares of the company’s stock, valued at approximately $5,214,489.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total transaction of $282,171.59. Following the completion of the sale, the senior vice president now directly owns 28,848 shares in the company, valued at approximately $3,436,085.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James D. Gray sold 8,490 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the sale, the chief financial officer now owns 42,833 shares of the company’s stock, valued at $5,214,489.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,361 shares of company stock valued at $4,515,876. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. The Goldman Sachs Group raised 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 note on Thursday, February 15th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 5th. Barclays lifted their price objective on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets lifted their price objective on Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.17.

Get Our Latest Analysis on Ingredion

Ingredion Stock Down 0.6 %

NYSE INGR opened at $115.25 on Tuesday. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $122.18. The stock’s 50 day moving average is $115.62 and its 200 day moving average is $112.56. The stock has a market cap of $7.57 billion, a PE ratio of 11.55, a P/E/G ratio of 1.08 and a beta of 0.74.

Ingredion (NYSE:INGRGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.08. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.80 EPS. Research analysts predict that Ingredion Incorporated will post 9.76 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Monday, July 1st. Ingredion’s dividend payout ratio is currently 31.26%.

Ingredion Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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