Amalgamated Bank cut its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 24.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,039 shares of the company's stock after selling 10,129 shares during the period. Amalgamated Bank's holdings in Ingredion were worth $4,266,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ingredion in the second quarter worth $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock worth $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ingredion during the 2nd quarter worth about $33,000. Family Firm Inc. acquired a new position in shares of Ingredion during the 2nd quarter valued at about $36,000. Finally, International Assets Investment Management LLC acquired a new stake in Ingredion during the second quarter worth about $36,000. 85.27% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on INGR shares. Oppenheimer upped their price target on Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a report on Wednesday. StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. UBS Group increased their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. BMO Capital Markets raised their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a report on Wednesday. Finally, Barclays upped their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $151.00.
View Our Latest Analysis on INGR
In other news, CEO James P. Zallie sold 1,300 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company's stock, valued at approximately $7,040,070.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,056 shares of company stock worth $4,121,736. 1.80% of the stock is currently owned by insiders.
INGR opened at $151.55 on Friday. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The firm's 50-day simple moving average is $136.22 and its 200-day simple moving average is $125.37. Ingredion Incorporated has a twelve month low of $100.53 and a twelve month high of $155.44.
Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. The company's quarterly revenue was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Ingredion Incorporated will post 10.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a $0.80 dividend. This is an increase from Ingredion's previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.11%. Ingredion's payout ratio is presently 32.72%.
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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