Texas Permanent School Fund Corp Boosts Holdings in Ingredion Incorporated (NYSE:INGR)

Texas Permanent School Fund Corp increased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,062 shares of the company’s stock after purchasing an additional 746 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Ingredion worth $6,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Loews Corp raised its holdings in Ingredion by 11.1% in the 4th quarter. Loews Corp now owns 200,000 shares of the company’s stock valued at $21,706,000 after acquiring an additional 20,000 shares during the last quarter. Paradiem LLC lifted its position in Ingredion by 64.2% during the fourth quarter. Paradiem LLC now owns 73,190 shares of the company’s stock worth $7,943,000 after buying an additional 28,617 shares in the last quarter. Insight Wealth Strategies LLC boosted its stake in Ingredion by 230.9% during the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after buying an additional 9,577 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Ingredion by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,471,587 shares of the company’s stock valued at $268,243,000 after buying an additional 82,599 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of Ingredion in the 1st quarter worth $1,154,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ingredion

In other news, CFO James D. Gray sold 8,490 shares of Ingredion stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the transaction, the chief financial officer now owns 42,833 shares in the company, valued at approximately $5,214,489.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO James D. Gray sold 8,490 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the transaction, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James P. Zallie sold 27,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.36, for a total value of $3,199,900.00. Following the completion of the sale, the chief executive officer now owns 52,197 shares in the company, valued at $6,073,642.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,359 shares of company stock worth $4,515,644. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

INGR has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Ingredion Trading Down 0.2 %

Shares of NYSE:INGR traded down $0.22 during mid-day trading on Friday, reaching $114.55. 14,298 shares of the company were exchanged, compared to its average volume of 395,325. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $122.18. The firm’s 50-day simple moving average is $115.96 and its 200 day simple moving average is $113.81.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities research analysts forecast that Ingredion Incorporated will post 9.7 EPS for the current year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, July 1st. Ingredion’s dividend payout ratio is currently 31.26%.

Ingredion Company 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.