J. W. Coons Advisors LLC Raises Holdings in Ingredion Incorporated $INGR

J. W. Coons Advisors LLC lifted its stake in Ingredion Incorporated (NYSE:INGR) by 205.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,852 shares of the company’s stock after buying an additional 3,934 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Ingredion were worth $794,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Ingredion by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company’s stock worth $372,594,000 after purchasing an additional 177,387 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Ingredion by 1.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company’s stock worth $164,771,000 after purchasing an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock worth $162,840,000 after purchasing an additional 361,584 shares in the last quarter. Northern Trust Corp boosted its position in Ingredion by 37.0% during the first quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock worth $132,883,000 after purchasing an additional 265,263 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Ingredion by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 736,046 shares of the company’s stock worth $99,822,000 after purchasing an additional 8,681 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the sale, the chief executive officer owned 50,129 shares of the company’s stock, valued at $6,342,321.08. This trade represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

Ingredion Stock Performance

Shares of Ingredion stock opened at $113.90 on Tuesday. Ingredion Incorporated has a one year low of $113.79 and a one year high of $155.44. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.95 and a beta of 0.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The business’s 50 day moving average price is $122.53 and its 200 day moving average price is $130.02.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.87 earnings per share. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.9%. This is a positive change from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, October 1st. Ingredion’s payout ratio is 32.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group lowered their price target on Ingredion from $144.00 to $130.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Weiss Ratings downgraded Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Zacks Research downgraded Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Finally, Oppenheimer set a $136.00 target price on Ingredion in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $143.40.

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.