Quantinno Capital Management LP Acquires 836 Shares of Ingredion Incorporated (NYSE:INGR)

Quantinno Capital Management LP grew its stake in Ingredion Incorporated (NYSE:INGR) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,617 shares of the company’s stock after purchasing an additional 836 shares during the quarter. Quantinno Capital Management LP’s holdings in Ingredion were worth $3,933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INGR. Cetera Advisors LLC boosted its holdings in Ingredion by 60.6% during the first quarter. Cetera Advisors LLC now owns 4,864 shares of the company’s stock worth $568,000 after buying an additional 1,835 shares during the last quarter. CWM LLC boosted its stake in Ingredion by 59.7% during the 2nd quarter. CWM LLC now owns 3,923 shares of the company’s stock worth $450,000 after acquiring an additional 1,467 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in Ingredion by 15.9% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 2,524 shares of the company’s stock valued at $289,000 after purchasing an additional 346 shares during the period. Wedge Capital Management L L P NC increased its stake in Ingredion by 2.5% in the second quarter. Wedge Capital Management L L P NC now owns 69,118 shares of the company’s stock valued at $7,928,000 after purchasing an additional 1,664 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Ingredion by 298.7% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $69,000 after purchasing an additional 445 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares in the company, 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. Insiders have sold 66,197 shares of company stock valued at $9,702,315 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Down 1.8 %

Shares of Ingredion stock opened at $145.23 on Monday. The firm has a market cap of $9.46 billion, a PE ratio of 14.17, a P/E/G ratio of 1.28 and a beta of 0.74. The business’s 50 day simple moving average is $140.76 and its 200 day simple moving average is $129.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a 52-week low of $104.68 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $2.33 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, analysts predict that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INGR. BMO Capital Markets boosted their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Stephens raised Ingredion to a “hold” rating in a research note on Monday, December 2nd. Oppenheimer raised their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Barclays lifted their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, UBS Group increased their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.17.

Ingredion 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.