Intech Investment Management LLC Reduces Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Intech Investment Management LLC reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 41.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,543 shares of the company's stock after selling 7,339 shares during the period. Intech Investment Management LLC's holdings in Ingredion were worth $1,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its position in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion during the second quarter valued at approximately $33,000. Prospera Private Wealth LLC purchased a new stake in shares of Ingredion during the third quarter valued at approximately $41,000. Finally, Family Firm Inc. purchased a new stake in shares of Ingredion during the second quarter valued at approximately $36,000. 85.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated 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 2.42 % 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, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company's stock, valued at $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,178 shares of company stock worth $4,848,837 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

INGR has been the subject of a number of analyst reports. BMO Capital Markets increased their price objective on Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a research note on Wednesday, November 6th. UBS Group raised their price target on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. Oppenheimer raised their price target on Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, Barclays raised their price target on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. 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, Ingredion has a consensus rating of "Moderate Buy" and a consensus target price of $155.17.

Ingredion Stock Up 0.3 %

Ingredion stock traded up $0.50 on Tuesday, hitting $148.78. 288,331 shares of the stock traded hands, compared to its average volume of 387,521. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.69 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. The business's fifty day simple moving average is $138.60 and its 200 day simple moving average is $127.84. Ingredion Incorporated has a 1 year low of $100.90 and a 1 year high of $155.44.

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

About Ingredion

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.