Hanson & Doremus Investment Management Decreases Stake in Ingredion Incorporated (NYSE:INGR)

Hanson & Doremus Investment Management lessened its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 37.1% in the 1st quarter, according to its most recent filing with the SEC. The firm 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 SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after buying an additional 79 shares during the period. Mindset Wealth Management LLC lifted its stake in Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock worth $538,000 after purchasing an additional 82 shares during the last quarter. Waverly Advisors LLC lifted its stake in Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after purchasing an additional 84 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock worth $594,000 after purchasing an additional 90 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company's stock worth $943,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Trading Down 0.9%

INGR opened at $138.22 on Monday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $111.54 and a 52 week high of $155.44. The business's 50 day moving average is $134.70 and its two-hundred day moving average is $134.68. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.53. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's payout ratio is 33.76%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Ingredion 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 completion of the transaction, the senior vice president now owns 31,996 shares in the company, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by company insiders.

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.

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