Credit Suisse AG cut its holdings in shares of Ingredion Inc (NYSE:INGR) by 17.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 129,002 shares of the company’s stock after selling 27,202 shares during the period. Credit Suisse AG’s holdings in Ingredion were worth $13,540,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of INGR. Canada Pension Plan Investment Board raised its position in shares of Ingredion by 51.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 380,010 shares of the company’s stock valued at $39,886,000 after buying an additional 128,700 shares during the period. CIBC World Markets Inc. raised its position in shares of Ingredion by 16.3% during the 3rd quarter. CIBC World Markets Inc. now owns 28,392 shares of the company’s stock valued at $2,980,000 after buying an additional 3,989 shares during the period. FMR LLC raised its position in shares of Ingredion by 49.3% during the 3rd quarter. FMR LLC now owns 1,480,245 shares of the company’s stock valued at $155,366,000 after buying an additional 488,810 shares during the period. Ffcm LLC purchased a new stake in shares of Ingredion during the 3rd quarter valued at approximately $259,000. Finally, American International Group Inc. raised its position in shares of Ingredion by 6.7% during the 3rd quarter. American International Group Inc. now owns 157,150 shares of the company’s stock valued at $16,494,000 after buying an additional 9,924 shares during the period. Hedge funds and other institutional investors own 85.28% of the company’s stock.
Several analysts have recently commented on the stock. ValuEngine raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Citigroup reduced their price target on shares of Ingredion from $95.00 to $89.00 and set a “sell” rating on the stock in a research report on Wednesday, October 24th. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Jefferies Financial Group lifted their price target on shares of Ingredion to $145.00 and gave the company a “buy” rating in a research report on Monday, November 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Ingredion presently has an average rating of “Hold” and an average price target of $124.50.
Ingredion stock opened at $99.42 on Friday. Ingredion Inc has a fifty-two week low of $89.48 and a fifty-two week high of $146.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.50 and a quick ratio of 1.53. The company has a market capitalization of $7.21 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.34 and a beta of 0.63.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, November 1st. The company reported $1.70 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.70. Ingredion had a net margin of 7.40% and a return on equity of 17.55%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts expect that Ingredion Inc will post 6.92 EPS for the current year.
In related news, VP Christine M. Castellano sold 13,261 shares of Ingredion stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $105.19, for a total value of $1,394,924.59. Following the completion of the sale, the vice president now owns 30,130 shares in the company, valued at approximately $3,169,374.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara A. Klein sold 1,775 shares of Ingredion stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $103.46, for a total transaction of $183,641.50. The disclosure for this sale can be found here. Insiders sold a total of 52,303 shares of company stock valued at $5,502,781 in the last quarter. 1.80% of the stock is owned by 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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