OLD Second National Bank of Aurora Buys New Stake in Ingredion Incorporated (NYSE:INGR)

OLD Second National Bank of Aurora bought a new stake in Ingredion Incorporated (NYSE:INGR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,734 shares of the company’s stock, valued at approximately $1,752,000.

Other large investors have also recently added to or reduced their stakes in the company. Highland Capital Management LLC bought a new position in Ingredion during the 4th quarter valued at $265,000. Foster & Motley Inc. boosted its stake in Ingredion by 46.1% during the 4th quarter. Foster & Motley Inc. now owns 16,815 shares of the company’s stock valued at $2,313,000 after purchasing an additional 5,306 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Ingredion by 65.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 86,878 shares of the company’s stock valued at $11,951,000 after purchasing an additional 34,348 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Ingredion by 1.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock valued at $572,000 after purchasing an additional 74 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in Ingredion by 4.1% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 2,819 shares of the company’s stock valued at $388,000 after purchasing an additional 110 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,692 shares of company stock valued at $9,634,868 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

INGR has been the subject of a number of research reports. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their price objective on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Stephens raised Ingredion to a “hold” rating in a research note on Monday, December 2nd. Barclays raised their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group raised their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $155.17.

Ingredion Stock Performance

Shares of Ingredion stock opened at $136.68 on Thursday. The stock has a market cap of $8.91 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.10 and a beta of 0.75. The business has a fifty day simple moving average of $139.86 and a 200-day simple moving average of $135.52. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 12 month low of $107.40 and a 12 month high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. Ingredion’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. On average, sell-side analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.34%. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

About Ingredion

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.