Ingredion Incorporated (NYSE:INGR) Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC reduced its position in Ingredion Incorporated shares by 22.1%, owning 34,130 shares valued at $4.6 million after selling 9,674 shares in the first quarter.
• Ingredion's stock opened at $127.90, with a market capitalization of $8.21 billion and a PE ratio of 12.48, indicating stable financial metrics.
• The company recently declared a quarterly dividend of $0.80 per share, representing an annualized dividend yield of 2.5% and a payout ratio of 31.22%.

LPL Financial LLC decreased its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 22.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,130 shares of the company's stock after selling 9,674 shares during the quarter. LPL Financial LLC owned 0.05% of Ingredion worth $4,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INGR. Alpine Bank Wealth Management acquired a new position in Ingredion in the first quarter valued at approximately $26,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Ingredion in the first quarter valued at approximately $32,000. Ameriflex Group Inc. acquired a new position in Ingredion in the fourth quarter valued at approximately $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after acquiring an additional 80 shares during the period. Finally, Whipplewood Advisors LLC lifted its holdings in Ingredion by 737.3% in the first quarter. Whipplewood Advisors LLC now owns 427 shares of the company's stock valued at $58,000 after acquiring an additional 376 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Stock Up 0.8%

Ingredion stock opened at $127.90 on Thursday. The stock has a market capitalization of $8.21 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.02 and a beta of 0.71. Ingredion Incorporated has a 12 month low of $120.51 and a 12 month high of $155.44. The business has a 50 day simple moving average of $134.20 and a 200-day simple moving average of $133.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The business's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.87 earnings per share. On average, analysts anticipate 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 was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, July 1st. Ingredion's payout ratio is presently 31.22%.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the sale, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. The trade was a 2.65% 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 the SEC website. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INGR shares. UBS Group boosted their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Oppenheimer decreased their price target on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $151.40.

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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