Martingale Asset Management L P Trims Position in Ingredion Incorporated (NYSE:INGR)

Martingale Asset Management L P cut its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,907 shares of the company's stock after selling 33,245 shares during the quarter. Martingale Asset Management L P owned about 0.31% of Ingredion worth $27,473,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of INGR. Price T Rowe Associates Inc. MD increased its holdings in Ingredion by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 38,461 shares of the company's stock worth $4,495,000 after purchasing an additional 1,904 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Ingredion by 154.0% in the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company's stock valued at $9,101,000 after acquiring an additional 47,225 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Ingredion by 35.2% during the 1st quarter. Tidal Investments LLC now owns 19,842 shares of the company's stock valued at $2,319,000 after acquiring an additional 5,168 shares during the period. LRI Investments LLC bought a new position in Ingredion during the first quarter worth $65,000. Finally, Cetera Advisors LLC grew its holdings in Ingredion by 60.6% in the first quarter. Cetera Advisors LLC now owns 4,864 shares of the company's stock worth $568,000 after purchasing an additional 1,835 shares during the period. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INGR shares. UBS Group increased their price objective on shares of Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. BMO Capital Markets increased their price target on Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a report on Wednesday, November 6th. Barclays boosted their price objective on Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. Finally, Oppenheimer boosted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $155.17.

Insiders Place Their Bets

In related news, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company's stock, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company's stock, valued at $6,967,399.22. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,328 shares of company stock valued at $1,649,741. Corporate insiders own 1.80% of the company's stock.

Ingredion Stock Up 0.2 %

Shares of NYSE:INGR traded up $0.31 during mid-day trading on Friday, hitting $147.34. 269,663 shares of the company traded hands, compared to its average volume of 387,333. The stock has a 50-day moving average price of $139.33 and a two-hundred day moving average price of $128.31. Ingredion Incorporated has a 12-month low of $101.00 and a 12-month high of $155.44. The stock has a market cap of $9.60 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.26 and a beta of 0.73. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 EPS. On average, equities research analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current year.

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.