CI Investments Inc. cut its position in shares of Ingredion Incorporated (NYSE:INGR – Get Rating) by 15.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,959 shares of the company’s stock after selling 558 shares during the period. CI Investments Inc.’s holdings in Ingredion were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of Ingredion by 1,760.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,581 shares of the company’s stock valued at $137,000 after acquiring an additional 1,496 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Ingredion by 4.2% in the 1st quarter. D.A. Davidson & CO. now owns 13,131 shares of the company’s stock valued at $1,144,000 after acquiring an additional 524 shares during the period. Bank of Montreal Can increased its holdings in shares of Ingredion by 2.4% in the 1st quarter. Bank of Montreal Can now owns 176,419 shares of the company’s stock valued at $15,522,000 after acquiring an additional 4,081 shares during the period. Natixis Advisors L.P. increased its holdings in shares of Ingredion by 2.4% in the 1st quarter. Natixis Advisors L.P. now owns 57,967 shares of the company’s stock valued at $5,052,000 after acquiring an additional 1,384 shares during the period. Finally, Skba Capital Management LLC increased its holdings in shares of Ingredion by 13.6% in the 1st quarter. Skba Capital Management LLC now owns 120,000 shares of the company’s stock valued at $10,458,000 after acquiring an additional 14,400 shares during the period. 88.44% of the stock is owned by institutional investors.
Ingredion Stock Down 1.1 %
Shares of INGR stock opened at $85.51 on Tuesday. Ingredion Incorporated has a 1-year low of $81.25 and a 1-year high of $101.89. The stock’s fifty day moving average price is $89.70 and its 200 day moving average price is $88.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 0.96. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 12.61 and a beta of 0.76.
Ingredion (NYSE:INGR – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.18. Ingredion had a return on equity of 14.53% and a net margin of 6.13%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the business earned $2.05 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts expect that Ingredion Incorporated will post 7.3 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, May 14th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.
Insider Buying and Selling at Ingredion
In other Ingredion news, VP Valdirene Bastos-Evans sold 1,958 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $85.52, for a total transaction of $167,448.16. Following the sale, the vice president now owns 7,375 shares in the company, valued at approximately $630,710. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.68% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.
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