North Point Portfolio Managers Corp OH Sells 3,178 Shares of Ingredion Incorporated (INGR)

North Point Portfolio Managers Corp OH reduced its stake in Ingredion Incorporated (NYSE:INGR) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,181 shares of the company’s stock after selling 3,178 shares during the period. Ingredion makes up 2.8% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 13th biggest position. North Point Portfolio Managers Corp OH owned approximately 0.19% of Ingredion worth $16,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Ingredion by 87.3% during the third quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock valued at $168,528,000 after purchasing an additional 651,035 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Ingredion by 20.2% during the second quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock valued at $155,408,000 after purchasing an additional 218,710 shares in the last quarter. AJO LP lifted its holdings in shares of Ingredion by 2.8% during the second quarter. AJO LP now owns 1,052,662 shares of the company’s stock valued at $125,488,000 after purchasing an additional 28,372 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ingredion by 29.8% during the second quarter. Principal Financial Group Inc. now owns 1,022,045 shares of the company’s stock valued at $121,838,000 after purchasing an additional 234,875 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Ingredion by 1.7% during the second quarter. Goldman Sachs Group Inc. now owns 999,894 shares of the company’s stock valued at $119,197,000 after purchasing an additional 16,793 shares in the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

In other Ingredion news, VP James P. Zallie sold 27,972 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the sale, the vice president now owns 29,429 shares in the company, valued at approximately $3,690,102.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP James P. Zallie sold 3,048 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,882 shares of company stock worth $6,622,034. Company insiders own 1.92% of the company’s stock.

Ingredion Incorporated (NYSE:INGR) traded up 3.71% on Wednesday, reaching $130.00. The company’s stock had a trading volume of 253,762 shares. The firm’s 50 day moving average price is $123.16 and its 200-day moving average price is $120.90. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $137.62. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 19.55 and a beta of 0.59.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.17. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 EPS. Equities analysts forecast that Ingredion Incorporated will post $7.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.50. Ingredion’s payout ratio is presently 36.09%.

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A number of research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price target on shares of Ingredion in a report on Friday, September 29th. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating and set a $135.00 price target on the stock. in a report on Wednesday, September 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $140.00.

Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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