Ingredion Incorporated (NYSE:INGR) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,717 shares of the company’s stock after selling 2,947 shares during the period. MML Investors Services LLC’s holdings in Ingredion were worth $3,397,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Orion Portfolio Solutions LLC increased its position in shares of Ingredion by 195.2% in the third quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock worth $1,595,000 after acquiring an additional 7,676 shares in the last quarter. Point72 DIFC Ltd increased its position in shares of Ingredion by 2,629.3% in the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after acquiring an additional 3,681 shares in the last quarter. State Street Corp increased its position in shares of Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after acquiring an additional 19,560 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ingredion by 55.7% in the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock worth $36,902,000 after acquiring an additional 115,147 shares in the last quarter. Finally, Bridges Investment Management Inc. purchased a new position in shares of Ingredion in the second quarter worth approximately $528,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group boosted their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Oppenheimer boosted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Stephens raised shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report 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.com, Ingredion presently has an average rating of “Moderate Buy” and a consensus price target of $155.17.

Ingredion Price Performance

NYSE INGR opened at $144.31 on Friday. The company has a 50 day moving average price of $141.59 and a two-hundred day moving average price of $130.51. 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 Incorporated has a 12-month low of $105.78 and a 12-month high of $155.44. The stock has a market capitalization of $9.40 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.24 and a beta of 0.74.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping 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 business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company earned $2.33 earnings per share. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts predict that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 66,198 shares of company stock worth $9,702,461 in the last ninety days. 1.80% of the stock is currently owned by insiders.

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.