Ontario Teachers Pension Plan Board Has $2.45 Million Position in Ingredion Incorporated (NYSE:INGR)

Ontario Teachers Pension Plan Board lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 64.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,814 shares of the company’s stock after selling 32,194 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Ingredion were worth $2,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in Ingredion by 154.0% in the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after buying an additional 47,225 shares during the last quarter. Point72 DIFC Ltd grew its position in shares of Ingredion by 2,629.3% in the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after purchasing an additional 3,681 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Ingredion by 55.7% in the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock worth $36,902,000 after purchasing an additional 115,147 shares during the period. Bridges Investment Management Inc. acquired a new position in shares of Ingredion during the 2nd quarter worth about $528,000. Finally, Waverly Advisors LLC bought a new stake in Ingredion during the 1st quarter valued at approximately $5,301,000. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on INGR. Oppenheimer upped their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays raised their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets increased their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,178 shares of company stock valued at $4,982,857 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Ingredion stock opened at $141.99 on Wednesday. The business has a 50 day simple moving average of $137.61 and a 200 day simple moving average of $126.87. Ingredion Incorporated has a one year low of $100.90 and a one year high of $155.44. The company has a market capitalization of $9.25 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. On average, sell-side analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.25%. Ingredion’s dividend payout ratio is 31.22%.

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.