Cambridge Investment Research Advisors Inc. trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,820 shares of the company’s stock after selling 175 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Ingredion were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of INGR. Henderson Group PLC grew its holdings in Ingredion by 6.9% during the first quarter. Henderson Group PLC now owns 14,125 shares of the company’s stock worth $1,701,000 after acquiring an additional 917 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Ingredion by 5.2% during the first 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 during the period. Xact Kapitalforvaltning AB grew its holdings in Ingredion by 11.8% during the first quarter. Xact Kapitalforvaltning AB now owns 5,723 shares of the company’s stock worth $689,000 after acquiring an additional 603 shares during the period. Pictet Asset Management Ltd. grew its holdings in Ingredion by 112.2% during the first 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 during the period. Finally, World Asset Management Inc grew its holdings in Ingredion by 10.5% during the first quarter. World Asset Management Inc now owns 5,240 shares of the company’s stock worth $631,000 after acquiring an additional 498 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
In other Ingredion news, VP James P. Zallie sold 3,048 shares of the business’s stock in a transaction that occurred on 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 SEC, which is accessible through this hyperlink. Insiders own 1.92% of the company’s stock.
Shares of Ingredion Incorporated (NYSE:INGR) opened at 124.70 on Wednesday. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 18.75 and a beta of 0.60. The firm has a 50-day moving average price of $123.12 and a 200 day moving average price of $120.21. Ingredion Incorporated has a one year low of $113.07 and a one year high of $137.62.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.53 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities analysts forecast that Ingredion Incorporated will post $7.61 earnings per share for the current fiscal year.
Several analysts recently commented on the company. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 target price on shares of Ingredion in a report on Tuesday, May 16th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Ingredion in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Ingredion presently has an average rating of “Hold” and a consensus price target of $141.00.
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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