Ingredion Incorporated (NYSE:INGR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,686 shares of the company’s stock after selling 4,776 shares during the period. New York State Teachers Retirement System owned 0.12% of Ingredion worth $9,369,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of INGR. Jones Financial Companies Lllp acquired a new position in Ingredion in the 4th quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its holdings in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares in the last quarter. National Bank of Canada FI lifted its holdings in Ingredion by 59.8% in the 4th quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after purchasing an additional 159 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Ingredion in the 1st quarter valued at $65,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INGR shares. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $122.00 to $145.00 in a report on Friday, August 9th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. UBS Group raised their price objective on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Oppenheimer lifted their price target on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price target on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.33.

Ingredion Stock Up 0.6 %

NYSE INGR opened at $132.82 on Friday. The business’s fifty day simple moving average is $120.60 and its 200-day simple moving average is $117.23. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.72 billion, a PE ratio of 13.31, a P/E/G ratio of 1.16 and a beta of 0.72. Ingredion Incorporated has a 52 week low of $89.54 and a 52 week high of $133.33.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the company earned $2.32 EPS. As a group, equities analysts anticipate that Ingredion Incorporated will post 9.7 earnings per share for the current year.

Insider Buying and Selling

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at approximately $6,073,642.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,695 shares of company stock valued at $3,349,275. 1.80% of the stock is currently owned by insiders.

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.