Ingredion Incorporated (INGR) Shares Sold by Van ECK Associates Corp
Van ECK Associates Corp decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,470 shares of the company’s stock after selling 964 shares during the quarter. Van ECK Associates Corp’s holdings in Ingredion were worth $1,263,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Harbour Capital Advisors LLC lifted its position in Ingredion by 11,821.1% during the second quarter. Harbour Capital Advisors LLC now owns 32,783 shares of the company’s stock valued at $275,000 after buying an additional 32,508 shares during the period. Janney Montgomery Scott LLC purchased a new position in Ingredion during the second quarter valued at $717,000. Great West Life Assurance Co. Can lifted its position in Ingredion by 22.8% during the second quarter. Great West Life Assurance Co. Can now owns 93,590 shares of the company’s stock valued at $11,144,000 after buying an additional 17,368 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Ingredion by 5.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 210,000 shares of the company’s stock valued at $25,034,000 after buying an additional 10,000 shares during the period. Finally, Sei Investments Co. lifted its position in Ingredion by 39.3% during the second quarter. Sei Investments Co. now owns 42,096 shares of the company’s stock valued at $5,019,000 after buying an additional 11,886 shares during the period. 83.38% of the stock is owned by institutional investors.
In related news, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares in the company, valued at approximately $3,690,102.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jorgen Kokke sold 20,674 shares of Ingredion stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $133.00, for a total value of $2,749,642.00. Following the completion of the sale, the senior vice president now owns 23,119 shares of the company’s stock, valued at $3,074,827. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,508 shares of company stock valued at $8,990,676. 1.92% of the stock is owned by insiders.
Several brokerages have commented on INGR. BidaskClub lowered Ingredion from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. BMO Capital Markets reissued a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research report on Friday, September 29th. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating and set a $135.00 price target for the company. in a research report on Wednesday, September 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Ingredion in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $140.00.
Ingredion Incorporated (INGR) opened at $139.71 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.41 and a quick ratio of 1.53. The stock has a market capitalization of $9,951.86, a PE ratio of 18.10, a PEG ratio of 1.63 and a beta of 0.72. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $140.71.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.17. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. Ingredion’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 EPS. research analysts expect that Ingredion Incorporated will post 7.71 earnings per share for the current year.
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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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