Thrivent Financial for Lutherans Lowers Position in Ingredion Incorporated (NYSE:INGR)

Thrivent Financial for Lutherans lessened its stake in Ingredion Incorporated (NYSE:INGR) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,405 shares of the company’s stock after selling 577 shares during the period. Thrivent Financial for Lutherans’ holdings in Ingredion were worth $2,117,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. raised its stake in Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after purchasing an additional 846,967 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Ingredion by 177.8% in the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after acquiring an additional 253,949 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after acquiring an additional 174,495 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after acquiring an additional 125,543 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Ingredion by 43.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after acquiring an additional 123,406 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of Ingredion stock opened at $147.03 on Thursday. The business has a 50-day moving average of $139.11 and a 200 day moving average of $128.18. Ingredion Incorporated has a 12 month low of $100.90 and a 12 month high of $155.44. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

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. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. As a group, sell-side analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the business’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 directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,878 shares of company stock worth $4,674,598. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group raised 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. Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets increased their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ingredion 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.