Hanson & Doremus Investment Management Has $1.51 Million Stake in Ingredion Incorporated (NYSE:INGR)

Hanson & Doremus Investment Management lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,939 shares of the company’s stock after selling 658 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Ingredion were worth $1,505,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in INGR. Patriot Financial Group Insurance Agency LLC lifted its position in Ingredion by 1.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after buying an additional 74 shares in the last quarter. Signaturefd LLC raised its stake in shares of Ingredion by 5.7% in the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after acquiring an additional 85 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Ingredion by 0.5% during the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after purchasing an additional 94 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ingredion by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after purchasing an additional 97 shares during the last quarter. Finally, Seelaus Asset Management LLC increased its holdings in shares of Ingredion by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on INGR. Stephens raised Ingredion to a “hold” rating in a report on Monday, December 2nd. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays lifted their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Oppenheimer upped their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets lifted their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Price Performance

Shares of INGR opened at $136.68 on Thursday. The stock has a market cap of $8.91 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.10 and a beta of 0.75. Ingredion Incorporated has a 1 year low of $107.40 and a 1 year high of $155.44. The stock’s 50-day moving average price is $139.86 and its two-hundred day moving average price is $135.52. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last released 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. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. On average, equities analysts predict that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio is currently 31.22%.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,692 shares of company stock valued at $9,634,868. 1.80% of the stock is owned by company insiders.

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.