Perigon Wealth Management LLC Invests $202,000 in Ingredion Incorporated (NYSE:INGR)

Perigon Wealth Management LLC bought a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,864 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INGR. Cutter & CO Brokerage Inc. raised its stake in Ingredion by 2.9% during the third quarter. Cutter & CO Brokerage Inc. now owns 34,577 shares of the company’s stock worth $3,402,000 after acquiring an additional 990 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Ingredion by 833.7% during the 3rd quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock valued at $13,442,000 after purchasing an additional 121,976 shares during the last quarter. Equity Investment Corp boosted its position in Ingredion by 1.4% in the third quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock valued at $89,424,000 after buying an additional 12,427 shares in the last quarter. Nordea Investment Management AB grew its stake in Ingredion by 73.0% during the third quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after buying an additional 317,509 shares during the last quarter. Finally, Horizon Family Wealth Inc. increased its holdings in shares of Ingredion by 10.9% during the third quarter. Horizon Family Wealth Inc. now owns 2,647 shares of the company’s stock worth $260,000 after buying an additional 260 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Activity

In related news, VP Davida Marie Gable sold 1,968 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the transaction, the vice president now owns 1,723 shares in the company, valued at $202,245.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the transaction, the chief executive officer now owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the transaction, the vice president now owns 1,723 shares of the company’s stock, valued at $202,245.74. The disclosure for this sale can be found here. Insiders sold a total of 58,921 shares of company stock valued at $6,903,045 in the last ninety days. 1.80% of the stock is owned by insiders.

Ingredion Price Performance

Ingredion stock opened at $111.30 on Thursday. The business’s 50-day simple moving average is $114.75 and its 200 day simple moving average is $107.13. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.04 and a beta of 0.81. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $118.83.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. Ingredion’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 earnings per share. As a group, research analysts anticipate that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.80%. Ingredion’s payout ratio is currently 32.50%.

Analyst Ratings Changes

Several brokerages have recently commented on INGR. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Stephens restated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a research note on Wednesday, February 7th. Barclays lifted their price target on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $135.00 in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.67.

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.