Commerzbank Aktiengesellschaft FI lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 38.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,610 shares of the company’s stock after selling 1,622 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Ingredion were worth $311,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Ingredion by 10.3% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,661 shares of the company’s stock worth $681,000 after acquiring an additional 529 shares in the last quarter. Henderson Group PLC boosted its stake in shares of Ingredion by 6.9% during the 1st quarter. Henderson Group PLC now owns 14,125 shares of the company’s stock worth $1,701,000 after acquiring an additional 917 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Ingredion by 5.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 28,001 shares of the company’s stock worth $3,372,000 after acquiring an additional 1,377 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Ingredion by 11.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,723 shares of the company’s stock worth $689,000 after acquiring an additional 603 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in shares of Ingredion by 112.2% during the 1st quarter. Pictet Asset Management Ltd. now owns 52,843 shares of the company’s stock worth $6,364,000 after acquiring an additional 27,943 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.
Several equities analysts recently weighed in on the company. BidaskClub cut Ingredion from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research report on Wednesday, September 6th. BMO Capital Markets reissued a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $141.00.
In related news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction dated Friday, September 1st. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.
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Ingredion Incorporated (INGR) opened at 124.60 on Tuesday. The firm has a market cap of $8.94 billion, a PE ratio of 18.74 and a beta of 0.60. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $138.20. The company’s 50 day moving average price is $123.08 and its 200 day moving average price is $120.17.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company posted $1.53 earnings per share. Ingredion’s quarterly revenue was up .1% on a year-over-year basis. Analysts predict that Ingredion Incorporated will post $7.61 earnings per share for the current fiscal 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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