Ingredion Incorporated (NYSE:INGR) Stock Position Reduced by HighTower Advisors LLC

HighTower Advisors LLC trimmed its position in Ingredion Incorporated (NYSE:INGR) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,322 shares of the company’s stock after selling 92 shares during the quarter. HighTower Advisors LLC’s holdings in Ingredion were worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in INGR. Blue Trust Inc. raised its stake in Ingredion by 298.7% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $69,000 after acquiring an additional 445 shares during the period. Raymond James & Associates lifted its holdings in shares of Ingredion by 6.7% in the 2nd quarter. Raymond James & Associates now owns 206,798 shares of the company’s stock worth $23,720,000 after purchasing an additional 12,918 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Ingredion by 57.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,616 shares of the company’s stock worth $415,000 after purchasing an additional 1,326 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in Ingredion by 1.6% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 366,038 shares of the company’s stock worth $41,985,000 after buying an additional 5,676 shares during the last quarter. Finally, Paradiem LLC grew its stake in Ingredion by 11.4% during the 2nd quarter. Paradiem LLC now owns 81,918 shares of the company’s stock worth $9,396,000 after buying an additional 8,386 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction 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 owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $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. Insiders sold 66,198 shares of company stock valued at $9,702,461 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Ingredion Trading Down 0.3 %

Shares of NYSE:INGR opened at $144.31 on Friday. The company has a 50 day moving average of $141.59 and a 200-day moving average of $130.51. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.40 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.24 and a beta of 0.74. Ingredion Incorporated has a twelve month low of $105.78 and a twelve month high of $155.44.

Ingredion (NYSE:INGR) last released its earnings results 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 return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts anticipate that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

About Ingredion

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.