Hanson & Doremus Investment Management Has $931,000 Stake in Ingredion Incorporated (NYSE:INGR)

Hanson & Doremus Investment Management cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 37.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,886 shares of the company's stock after selling 4,053 shares during the quarter. Hanson & Doremus Investment Management's holdings in Ingredion were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of INGR. RHS Financial LLC raised its position in Ingredion by 24.5% during the first quarter. RHS Financial LLC now owns 3,730 shares of the company's stock valued at $504,000 after acquiring an additional 734 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Ingredion by 9.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,041 shares of the company's stock worth $817,000 after purchasing an additional 506 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Ingredion by 14.2% in the 1st quarter. Ritholtz Wealth Management now owns 19,005 shares of the company's stock valued at $2,570,000 after purchasing an additional 2,369 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Ingredion by 17.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 16,669 shares of the company's stock worth $2,254,000 after purchasing an additional 2,428 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Ingredion by 10.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,305 shares of the company's stock worth $1,664,000 after buying an additional 1,114 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INGR has been the topic of a number of analyst reports. UBS Group set a $155.00 price objective on Ingredion in a report on Tuesday, April 22nd. Oppenheimer lowered their target price 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. Finally, Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ingredion presently has an average rating of "Moderate Buy" and a consensus target price of $152.20.

Ingredion Stock Performance

Shares of Ingredion stock traded down $0.62 during midday trading on Thursday, hitting $136.90. The company had a trading volume of 408,479 shares, compared to its average volume of 475,308. The stock has a market cap of $8.80 billion, a PE ratio of 14.44, a P/E/G ratio of 1.11 and a beta of 0.73. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44. The business's 50 day simple moving average is $135.35 and its two-hundred day simple moving average is $134.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.85 and a quick ratio of 1.86.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.84 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio is presently 33.76%.

Insider Activity

In related news, SVP Larry Fernandes sold 2,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 $4,345,696.72. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

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.