M&T Bank Corp lowered its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,319 shares of the company's stock after selling 3,950 shares during the period. M&T Bank Corp owned approximately 0.09% of Ingredion worth $8,427,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Ingredion by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after buying an additional 125,543 shares during the last quarter. State Street Corp raised its holdings in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock worth $334,862,000 after purchasing an additional 19,560 shares during the period. Pacer Advisors Inc. increased its position in Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock worth $202,332,000 after buying an additional 846,967 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ingredion by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock valued at $211,529,000 after buying an additional 36,421 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Ingredion by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock valued at $160,516,000 after buying an additional 19,064 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.
Several brokerages recently commented on INGR. Stephens raised shares of Ingredion to a "hold" rating in a research note on Monday, December 2nd. UBS Group boosted their target price on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted their price objective on Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a report on Wednesday, November 6th. Finally, Oppenheimer raised their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $155.17.
Get Our Latest Research Report on Ingredion
In related news, SVP Larry Fernandes sold 4,700 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were 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 13.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares of the company's stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,198 shares of company stock valued at $9,702,461 in the last ninety days. Company insiders own 1.80% of the company's stock.
Shares of Ingredion stock opened at $138.19 on Monday. The firm has a market capitalization of $9.00 billion, a PE ratio of 13.48, a P/E/G ratio of 1.24 and a beta of 0.74. Ingredion Incorporated has a twelve month low of $106.03 and a twelve month high of $155.44. The firm's 50-day moving average price is $142.29 and its 200 day moving average price is $131.48. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44.
Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $2.33 EPS. The company's quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd will be issued a $0.80 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.32%. Ingredion's dividend payout ratio (DPR) is presently 31.22%.
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.
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