Principal Financial Group Inc. Purchases 10,812 Shares of Ingredion Incorporated (NYSE:INGR)

Principal Financial Group Inc. grew its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 725,374 shares of the company’s stock after purchasing an additional 10,812 shares during the quarter. Principal Financial Group Inc.’s holdings in Ingredion were worth $99,683,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion in the 2nd quarter worth $33,000. Family Firm Inc. bought a new stake in Ingredion in the second quarter worth $36,000. Finally, International Assets Investment Management LLC purchased a new stake in Ingredion during the second quarter valued at about $36,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INGR. UBS Group boosted their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer upped their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.00.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,056 shares of company stock valued at $4,121,736 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Up 1.0 %

INGR stock opened at $151.55 on Friday. Ingredion Incorporated has a fifty-two week low of $100.53 and a fifty-two week high of $155.44. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.21 and a beta of 0.73. The business’s 50 day moving average price is $136.22 and its two-hundred day moving average price is $125.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. As a group, analysts forecast that Ingredion Incorporated will post 10.05 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.11%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio is presently 32.72%.

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.