Integrated Wealth Concepts LLC Sells 810 Shares of Ingredion Incorporated (NYSE:INGR)

Integrated Wealth Concepts LLC lowered its position in Ingredion Incorporated (NYSE:INGR) by 25.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,359 shares of the company’s stock after selling 810 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Ingredion were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INGR. Benjamin Edwards Inc. acquired a new position in shares of Ingredion in the 3rd quarter worth approximately $1,347,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Ingredion by 1,342.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,124 shares of the company’s stock valued at $567,000 after purchasing an additional 3,838 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Ingredion during the 3rd quarter valued at $692,000. Erste Asset Management GmbH acquired a new stake in Ingredion during the 3rd quarter valued at $673,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Ingredion during the 3rd quarter valued at $17,094,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Up 0.3 %

NYSE:INGR opened at $144.86 on Friday. Ingredion Incorporated has a 12-month low of $105.78 and a 12-month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $9.44 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.25 and a beta of 0.74. The stock’s fifty day simple moving average is $141.40 and its 200-day simple moving average is $130.23.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $2.33 EPS. Equities research analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,197 shares of company stock worth $9,702,315. Corporate insiders own 1.80% of the company’s stock.

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.