Raymond James Trust N.A. Buys 1,042 Shares of Ingredion Incorporated (NYSE:INGR)

Raymond James Trust N.A. grew its stake in shares of Ingredion Incorporated (NYSE:INGR) by 15.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,875 shares of the company’s stock after acquiring an additional 1,042 shares during the period. Raymond James Trust N.A.’s holdings in Ingredion were worth $1,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC raised its stake in shares of Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after acquiring an additional 85 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in Ingredion by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after buying an additional 105 shares during the period. Conscious Wealth Investments LLC increased its holdings in Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after buying an additional 106 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the period. Finally, Delphi Management Inc. MA increased its holdings in Ingredion by 0.8% during the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after buying an additional 123 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

INGR has been the topic of several research reports. Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer lifted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. UBS Group lifted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets lifted their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Activity

In related news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,178 shares of company stock valued at $4,848,837 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Ingredion Price Performance

Shares of INGR opened at $146.47 on Monday. The firm has a market capitalization of $9.54 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.24 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 Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44. The company’s fifty day moving average price is $138.33 and its 200-day moving average price is $127.58.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. On average, equities research analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.80 per share. The ex-dividend date 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 dividend yield of 2.18%. Ingredion’s payout ratio is 31.22%.

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.