The Manufacturers Life Insurance Company Sells 9,275 Shares of Ingredion Incorporated (NYSE:INGR)

The Manufacturers Life Insurance Company reduced its position in Ingredion Incorporated (NYSE:INGR) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,545 shares of the company’s stock after selling 9,275 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Ingredion were worth $15,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after acquiring an additional 85 shares during the period. Seelaus Asset Management LLC raised its position in Ingredion by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after purchasing an additional 105 shares in the last quarter. Conscious Wealth Investments LLC lifted its stake in Ingredion by 0.4% during the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after purchasing an additional 106 shares during the period. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 118 shares in the last quarter. Finally, Delphi Management Inc. MA grew its stake in shares of Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction 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. The trade was a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,328 shares of company stock worth $1,649,741 over the last three months. 1.80% of the stock is currently owned by company insiders.

Ingredion Price Performance

Shares of INGR stock opened at $147.34 on Monday. Ingredion Incorporated has a 1 year low of $101.00 and a 1 year high of $155.44. 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’s 50 day moving average is $139.58 and its 200-day moving average is $128.64. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.26 and a beta of 0.73.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 17.75% and a net margin of 9.05%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 EPS. Sell-side analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.