Great West Life Assurance Co. Can decreased its position in shares of Ingredion Inc (NYSE:INGR) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,975 shares of the company’s stock after selling 10,025 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Ingredion were worth $10,393,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in shares of Ingredion during the 2nd quarter valued at $153,000. Legacy Financial Advisors Inc. raised its position in shares of Ingredion by 382.7% during the 3rd quarter. Legacy Financial Advisors Inc. now owns 1,559 shares of the company’s stock valued at $163,000 after acquiring an additional 1,236 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Ingredion by 42.2% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock valued at $187,000 after acquiring an additional 500 shares during the last quarter. Ffcm LLC bought a new stake in shares of Ingredion during the 3rd quarter valued at $259,000. Finally, Global X Management Co LLC increased its position in shares of Ingredion by 92.0% in the 2nd quarter. Global X Management Co LLC now owns 2,411 shares of the company’s stock valued at $267,000 after buying an additional 1,155 shares in the last quarter. 85.28% of the stock is currently owned by hedge funds and other institutional investors.
INGR has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on shares of Ingredion to $145.00 and gave the company a “buy” rating in a research report on Monday, November 19th. Citigroup upgraded shares of Ingredion from a “sell” rating to a “neutral” rating in a research report on Thursday, November 1st. Zacks Investment Research cut shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Finally, ValuEngine upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Ingredion currently has an average rating of “Hold” and a consensus price target of $124.50.
INGR opened at $99.42 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.50 and a quick ratio of 1.53. Ingredion Inc has a 12 month low of $89.48 and a 12 month high of $146.28. The firm has a market capitalization of $7.21 billion, a P/E ratio of 12.91, a PEG ratio of 1.34 and a beta of 0.63.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Thursday, November 1st. The company reported $1.70 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.70. Ingredion had a net margin of 7.40% and a return on equity of 17.55%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Ingredion Inc will post 6.92 earnings per share for the current fiscal year.
In other Ingredion news, VP Christine M. Castellano sold 13,261 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $105.19, for a total transaction of $1,394,924.59. Following the completion of the transaction, the vice president now owns 30,130 shares in the company, valued at approximately $3,169,374.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christine M. Castellano sold 37,267 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $105.30, for a total value of $3,924,215.10. Following the transaction, the vice president now owns 28,168 shares of the company’s stock, valued at approximately $2,966,090.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,303 shares of company stock valued at $5,502,781. 1.80% of the stock is owned by corporate insiders.
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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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