Ingredion Incorporated (NYSE:INGR) Shares Bought by Gallacher Capital Management LLC

Gallacher Capital Management LLC increased its position in Ingredion Incorporated (NYSE:INGR) by 181.0% during the second quarter, Holdings Channel reports. The fund owned 5,446 shares of the company’s stock after purchasing an additional 3,508 shares during the quarter. Gallacher Capital Management LLC’s holdings in Ingredion were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of INGR. EverSource Wealth Advisors LLC boosted its position in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in Ingredion by 6.3% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock worth $255,000 after purchasing an additional 130 shares during the period. STAR Financial Bank grew its position in Ingredion by 3.8% in the 4th quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock valued at $389,000 after buying an additional 132 shares in the last quarter. Signaturefd LLC increased its stake in Ingredion by 10.4% during the 2nd quarter. Signaturefd LLC now owns 1,485 shares of the company’s stock valued at $170,000 after buying an additional 140 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Ingredion by 0.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,806 shares of the company’s stock worth $2,081,000 after buying an additional 154 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INGR. Oppenheimer raised their price objective on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price target on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. UBS Group upped their price objective on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $122.00 to $145.00 in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,070.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,595.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,045 shares of company stock worth $3,482,491. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.2 %

Shares of Ingredion stock opened at $135.23 on Friday. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $136.42. The company has a market cap of $8.88 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.23 and a beta of 0.73. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $124.37 and a 200 day moving average price of $118.78.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm earned $2.32 earnings per share. The firm’s revenue was down 9.2% compared to the same quarter last year. As a group, analysts expect that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. Ingredion’s dividend payout ratio is 32.06%.

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.