Bank of Montreal Can Reduces Stock Position in Ingredion Incorporated (NYSE:INGR)

Bank of Montreal Can reduced its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 58.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,152 shares of the company's stock after selling 112,129 shares during the period. Bank of Montreal Can owned 0.12% of Ingredion worth $11,148,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INGR. Pacer Advisors Inc. boosted its holdings in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock worth $202,332,000 after purchasing an additional 846,967 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Ingredion by 177.8% during the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company's stock worth $45,491,000 after purchasing an additional 253,949 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Ingredion by 55,219.9% during the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company's stock worth $240,240,000 after purchasing an additional 174,495 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ingredion by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after purchasing an additional 125,543 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Ingredion by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 321,729 shares of the company's stock worth $36,902,000 after purchasing an additional 115,147 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 371 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company's stock, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,328 shares of company stock worth $1,649,741 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Up 0.8 %

NYSE:INGR traded up $1.19 during trading hours on Monday, hitting $148.53. The company's stock had a trading volume of 114,302 shares, compared to its average volume of 386,139. The stock has a market capitalization of $9.68 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. The stock has a fifty day moving average of $139.58 and a 200-day moving average of $128.64. 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 Incorporated has a 52-week low of $104.52 and a 52-week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. Ingredion's revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

INGR has been the topic of several recent research reports. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. UBS Group upped their price objective on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Oppenheimer upped their price objective on Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. BMO Capital Markets upped their price objective on Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $155.17.

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.