Strategic Investment Advisors MI Purchases Shares of 2,246 Ingredion Incorporated (NYSE:INGR)

Strategic Investment Advisors MI purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,246 shares of the company's stock, valued at approximately $304,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of Ingredion by 1.9% in the fourth quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock worth $80,209,000 after acquiring an additional 10,703 shares during the last quarter. Magnetar Financial LLC raised its stake in shares of Ingredion by 606.2% in the fourth quarter. Magnetar Financial LLC now owns 38,023 shares of the company's stock worth $5,230,000 after acquiring an additional 32,639 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Ingredion by 93.2% in the fourth quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock worth $89,790,000 after acquiring an additional 314,912 shares during the last quarter. Level Four Advisory Services LLC raised its stake in shares of Ingredion by 6.7% in the fourth quarter. Level Four Advisory Services LLC now owns 35,428 shares of the company's stock worth $4,874,000 after acquiring an additional 2,210 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Ingredion by 770.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,691 shares of the company's stock worth $508,000 after acquiring an additional 3,267 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Ingredion Trading Up 0.3%

Shares of NYSE:INGR traded up $0.43 during trading on Friday, hitting $135.82. 642,943 shares of the company's stock were exchanged, compared to its average volume of 472,290. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44. The firm has a 50-day moving average price of $136.36 and a two-hundred day moving average price of $134.02. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a market cap of $8.73 billion, a P/E ratio of 14.33, a PEG ratio of 1.09 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. Ingredion's revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 EPS. Equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, July 1st. Ingredion's dividend payout ratio is currently 33.76%.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the transaction, the senior vice president now owns 31,996 shares in the company, valued at approximately $4,345,696.72. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Oppenheimer lowered their price target on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group set a $155.00 price target on shares of Ingredion in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and an average target price of $152.20.

Ingredion 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.