Eagle Asset Management Inc. cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,500 shares of the company’s stock after selling 49 shares during the period. Eagle Asset Management Inc.’s holdings in Ingredion were worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of INGR. BlackRock Inc. lifted its holdings in Ingredion by 1,655.4% during the first quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock worth $997,686,000 after acquiring an additional 7,812,440 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Ingredion by 6,380.0% during the second quarter. Victory Capital Management Inc. now owns 745,917 shares of the company’s stock worth $88,921,000 after acquiring an additional 734,406 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Ingredion by 39.7% during the first quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock worth $183,602,000 after acquiring an additional 433,572 shares in the last quarter. PGGM Investments bought a new position in Ingredion during the second quarter worth about $31,600,000. Finally, Principal Financial Group Inc. lifted its holdings in Ingredion by 29.8% during the second quarter. Principal Financial Group Inc. now owns 1,022,045 shares of the company’s stock worth $121,838,000 after acquiring an additional 234,875 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.
A number of brokerages have recently commented on INGR. BidaskClub lowered Ingredion from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a report on Wednesday, September 6th. BMO Capital Markets restated a “hold” rating and issued a $125.00 price target on shares of Ingredion in a report on Tuesday, June 27th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $141.00.
In other news, VP James P. Zallie sold 3,048 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $125.00, for a total transaction of $381,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.92% of the stock is owned by corporate insiders.
Shares of Ingredion Incorporated (NYSE INGR) opened at 124.23 on Monday. The stock has a 50 day moving average price of $123.05 and a 200-day moving average price of $120.21. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 18.68 and a beta of 0.60. Ingredion Incorporated has a one year low of $113.07 and a one year high of $138.20.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. On average, equities research analysts expect that Ingredion Incorporated will post $7.61 EPS for the current year.
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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