Standard Life Aberdeen plc Has $615,000 Stake in Ingredion Inc (INGR)

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Standard Life Aberdeen plc trimmed its holdings in shares of Ingredion Inc (NYSE:INGR) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,863 shares of the company’s stock after selling 143 shares during the quarter. Standard Life Aberdeen plc’s holdings in Ingredion were worth $615,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management grew its stake in Ingredion by 0.3% in the third quarter. LSV Asset Management now owns 2,491,589 shares of the company’s stock worth $261,517,000 after purchasing an additional 8,208 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Ingredion by 19.7% in the third quarter. Victory Capital Management Inc. now owns 2,061,660 shares of the company’s stock valued at $216,392,000 after acquiring an additional 339,432 shares during the period. Bank of New York Mellon Corp boosted its stake in Ingredion by 66.8% in the third quarter. Bank of New York Mellon Corp now owns 1,648,711 shares of the company’s stock valued at $173,050,000 after acquiring an additional 660,285 shares during the period. FMR LLC boosted its stake in Ingredion by 49.3% in the third quarter. FMR LLC now owns 1,480,245 shares of the company’s stock valued at $155,366,000 after acquiring an additional 488,810 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Ingredion by 15.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,090,072 shares of the company’s stock valued at $114,411,000 after acquiring an additional 147,595 shares during the period. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of INGR stock opened at $97.75 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.50 and a quick ratio of 1.53. Ingredion Inc has a 52 week low of $87.02 and a 52 week high of $146.28. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.12 and a beta of 0.75.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Thursday, November 1st. The company reported $1.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.70. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. On average, analysts predict that Ingredion Inc will post 6.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Wednesday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $2.50 annualized dividend and a dividend yield of 2.56%. Ingredion’s dividend payout ratio is presently 32.47%.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded Ingredion from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 26th. Jefferies Financial Group lifted their target price on Ingredion to $145.00 and gave the company a “buy” rating in a research note on Monday, November 19th. Citigroup upgraded Ingredion from a “sell” rating to a “neutral” rating in a research note on Thursday, November 1st. Finally, ValuEngine upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Ingredion currently has an average rating of “Hold” and a consensus target price of $124.50.

In other news, VP Christine M. Castellano sold 13,261 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $105.19, for a total transaction of $1,394,924.59. Following the completion of the transaction, the vice president now directly owns 30,130 shares in the company, valued at $3,169,374.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barbara A. Klein sold 1,775 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $103.46, for a total value of $183,641.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,303 shares of company stock valued at $5,502,781. Insiders own 1.80% of the company’s stock.

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Ingredion Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

Further Reading: Rule of 72

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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