Intech Investment Management LLC Sells 7,339 Shares of Ingredion Incorporated (NYSE:INGR)

Intech Investment Management LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 41.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,543 shares of the company’s stock after selling 7,339 shares during the quarter. Intech Investment Management LLC’s holdings in Ingredion were worth $1,449,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings 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 purchasing an additional 47,225 shares in the last quarter. Point72 DIFC Ltd raised its stake in shares of Ingredion by 2,629.3% during the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after acquiring an additional 3,681 shares in the last quarter. AQR Capital Management LLC raised its stake 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 acquiring an additional 115,147 shares in the last quarter. Bridges Investment Management Inc. bought a new position in shares of Ingredion during the 2nd quarter worth approximately $528,000. Finally, Equity Investment Corp raised its stake in shares of Ingredion by 2.8% during the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after acquiring an additional 26,526 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Activity

In related news, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. This trade represents a 30.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,178 shares of company stock valued at $4,848,837 in the last ninety days. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on INGR. UBS Group boosted their price objective on shares of 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 shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer upped 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Trading Up 1.2 %

Shares of Ingredion stock opened at $148.24 on Tuesday. 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 12-month low of $100.90 and a 12-month high of $155.44. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.26 and a beta of 0.73. The firm’s 50 day simple moving average is $138.33 and its two-hundred day simple moving average is $127.64.

Ingredion (NYSE:INGR) last released 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 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% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 EPS. Analysts predict that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion 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.