By otakuyassine3@gmail.com 
Public Employees Retirement System of Ohio lowered its position in Ingredion Incorporated (NYSE:INGR – Free Report) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,637 shares of the company’s stock after selling 2,394 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ingredion were worth $3,523,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its holdings in shares of Ingredion by 195.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock valued at $1,595,000 after buying an additional 7,676 shares during the period. Point72 DIFC Ltd lifted its holdings in Ingredion by 2,629.3% in the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after acquiring an additional 3,681 shares during the period. State Street Corp boosted its position in shares of Ingredion by 0.8% during the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after purchasing an additional 19,560 shares in the last quarter. AQR Capital Management LLC grew 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 purchasing an additional 115,147 shares during the period. Finally, Bridges Investment Management Inc. purchased a new position in shares of Ingredion in the 2nd quarter valued at about $528,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Ingredion Stock Down 0.3 %
INGR opened at $144.31 on Monday. The firm has a market cap of $9.40 billion, a P/E ratio of 14.08, a PEG ratio of 1.24 and a beta of 0.74. The business’s fifty day simple moving average is $141.59 and its 200 day simple moving average is $130.62. Ingredion Incorporated has a 52 week low of $105.78 and a 52 week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.
Ingredion (NYSE:INGR – Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $2.33 EPS. As a group, equities research analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,198 shares of company stock valued at $9,702,461. Company insiders own 1.80% of the company’s stock.
Analyst Upgrades and Downgrades
INGR has been the topic of a number of research analyst reports. 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 report on Friday, November 15th. Stephens raised Ingredion to a “hold” rating in a research note on Monday, December 2nd. Oppenheimer upped their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays lifted their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets increased their price objective 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.17.
Read Our Latest Analysis on INGR
Ingredion Company 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.
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