Raymond James Trust N.A. Boosts Stock Position in Ingredion Incorporated (NYSE:INGR)

Raymond James Trust N.A. boosted its holdings in Ingredion Incorporated (NYSE:INGR) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,875 shares of the company’s stock after acquiring an additional 1,042 shares during the quarter. Raymond James Trust N.A.’s holdings in Ingredion were worth $1,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after acquiring an additional 36,421 shares in the last quarter. Foundry Partners LLC lifted its position in Ingredion by 69.3% in the 3rd quarter. Foundry Partners LLC now owns 5,032 shares of the company’s stock valued at $692,000 after acquiring an additional 2,059 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Ingredion in the 3rd quarter valued at approximately $525,000. Advisors Asset Management Inc. lifted its position in Ingredion by 11.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 29,153 shares of the company’s stock valued at $4,006,000 after acquiring an additional 2,988 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Ingredion in the 3rd quarter valued at approximately $41,000. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on INGR. Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. BMO Capital Markets increased their price target on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Price Performance

Shares of Ingredion stock opened at $146.47 on Monday. Ingredion Incorporated has a one year low of $100.90 and a one year high of $155.44. The stock’s fifty day moving average is $138.33 and its 200 day moving average is $127.58. The stock has a market cap of $9.54 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $2.33 EPS. Ingredion’s revenue for the quarter was down 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio is presently 31.22%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. This represents a 30.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,178 shares of company stock worth $4,848,837. Corporate insiders own 1.80% of the company’s stock.

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.