Harbor Capital Advisors Inc. Raises Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Harbor Capital Advisors Inc. increased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 71.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,030 shares of the company’s stock after purchasing an additional 35,477 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.13% of Ingredion worth $11,686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in 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 boosted its stake 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion during the second quarter valued at approximately $33,000. Family Firm Inc. bought a new stake in shares of Ingredion in the 2nd quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ingredion in the 2nd quarter valued at approximately $36,000. 85.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,356 shares of company stock worth $3,400,709. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

INGR has been the subject of several analyst reports. UBS Group raised their price objective on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $122.00 to $145.00 in a research note on Friday, August 9th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets raised their price target on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer raised their price target on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.83.

Ingredion Price Performance

Shares of INGR stock opened at $133.77 on Friday. The stock has a 50 day moving average price of $134.74 and a 200 day moving average price of $124.22. The firm has a market capitalization of $8.70 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.21 and a beta of 0.72. Ingredion Incorporated has a 52-week low of $93.26 and a 52-week high of $138.37. 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 quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $2.32 EPS. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, sell-side analysts predict that Ingredion Incorporated will post 10.05 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.39%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s payout ratio is 32.72%.

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.