Bank of Montreal Can Lowers Stock Position in Ingredion Incorporated (NYSE:INGR)

Bank of Montreal Can decreased its position in Ingredion Incorporated (NYSE:INGR) by 58.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,152 shares of the company’s stock after selling 112,129 shares during the period. Bank of Montreal Can’s holdings in Ingredion were worth $11,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ingredion during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its position in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ingredion in the second quarter valued at approximately $33,000. Family Firm Inc. acquired a new stake in Ingredion in the second quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ingredion in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction that occurred 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 sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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 owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,328 shares of company stock worth $1,649,741. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. UBS Group increased their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Oppenheimer lifted their target price 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. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays lifted their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Price Performance

Ingredion stock opened at $147.34 on Monday. The company has a fifty day simple moving average of $139.58 and a 200-day simple moving average of $128.64. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.26 and a beta of 0.73. 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 52-week low of $101.00 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $2.33 EPS. Ingredion’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

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.