Ingredion Incorporated $INGR Shares Purchased by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Ingredion stake by 13.7% in the third quarter, bringing its holdings to 266,544 shares valued at approximately $25.5 million. Institutional investors collectively own 85.27% of the company.
• Analysts remain broadly cautious, with one Buy rating and eight Holds. The consensus rating is Hold, with an average price target of $120.29; UBS and Barclays recently lowered their targets.
• Ingredion reported quarterly EPS of $2.82, exceeding estimates, while revenue rose 0.9% year over year to $1.85 billion. The company also increased its quarterly dividend to $0.83 per share, yielding about 3.4% annually.

ProShare Advisors LLC boosted its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,544 shares of the company's stock after acquiring an additional 32,144 shares during the quarter. ProShare Advisors LLC owned 0.42% of Ingredion worth $25,538,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC acquired a new position in shares of Ingredion during the 3rd quarter worth about $32,000. Bell Investment Advisors Inc bought a new stake in shares of Ingredion in the 2nd quarter valued at about $34,000. Root Financial Partners LLC acquired a new stake in Ingredion in the 3rd quarter valued at about $35,000. Continuum Advisory LLC acquired a new stake in Ingredion in the 2nd quarter valued at about $43,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new stake in Ingredion in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings raised Ingredion from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Zacks Research upgraded Ingredion from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. UBS Group cut their price objective on Ingredion from $108.00 to $104.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Finally, Barclays reduced their target price on Ingredion from $118.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $120.29.

Ingredion Price Performance

Shares of INGR opened at $98.89 on Tuesday. The firm has a market capitalization of $6.24 billion, a PE ratio of 10.78, a PEG ratio of 0.81 and a beta of 0.65. The company's 50-day moving average is $98.37 and its 200-day moving average is $105.67. Ingredion Incorporated has a fifty-two week low of $93.30 and a fifty-two week high of $123.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.80 and a quick ratio of 1.92.

Ingredion (NYSE:INGR - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.11. Ingredion had a net margin of 8.21% and a return on equity of 15.40%. The company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter last year, the company posted $2.87 EPS. Ingredion's quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Ingredion Incorporated will post 10.62 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Thursday, October 1st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.4%. This is a boost from Ingredion's previous quarterly dividend of $0.82. The ex-dividend date was Thursday, October 1st. Ingredion's dividend payout ratio (DPR) is 36.21%.

Insider Transactions at Ingredion

In other Ingredion news, Director David Fischer sold 1,662 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $102.31, for a total transaction of $170,039.22. Following the completion of the sale, the director directly owned 19,930 shares in the company, valued at $2,039,038.30. This trade represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

About Ingredion

Ingredion Incorporated NYSE: INGR is a global ingredient solutions provider that develops and produces starches, sweeteners, texturizers, fibers, plant-based proteins and other specialty ingredients. The company processes plant-based raw materials, including corn, tapioca, potato, rice and other grains, into ingredients used by manufacturers across a range of industries.

Ingredion's products support food and beverage applications such as bakery products, dairy and alternative dairy, confectionery, beverages and prepared foods.

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