1,892 Shares in Ingredion Incorporated (NYSE:INGR) Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,892 shares of the company's stock, valued at approximately $256,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of Ingredion in the 1st quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after buying an additional 196 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of Ingredion in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its position in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after acquiring an additional 79 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in Ingredion during the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the transaction, the senior vice president directly owned 31,996 shares in the company, valued at $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

INGR has been the topic of several analyst reports. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. UBS Group increased their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, Oppenheimer decreased their price target on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and an average target price of $151.40.

Ingredion Stock Up 0.3%

Shares of Ingredion stock traded up $0.40 during trading hours on Monday, reaching $136.11. 261,219 shares of the company's stock were exchanged, compared to its average volume of 535,590. The stock has a market cap of $8.75 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.09 and a beta of 0.72. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a fifty-two week low of $113.94 and a fifty-two week high of $155.44. The company has a 50 day moving average of $137.51 and a two-hundred day moving average of $133.75.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The firm's revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.35%. Ingredion's payout ratio is currently 33.76%.

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.