Ingredion Incorporated (NYSE:INGR) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 14.3% in the third quarter, HoldingsChannel reports. The firm owned 199,907 shares of the company’s stock after selling 33,245 shares during the period. Martingale Asset Management L P’s holdings in Ingredion were worth $27,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion in the second quarter worth about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion during the second quarter worth about $33,000. Family Firm Inc. purchased a new stake in shares of Ingredion during the second quarter worth about $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ingredion during the second quarter worth about $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 371 shares of the company’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 transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,328 shares of company stock worth $1,649,741. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Performance

NYSE:INGR opened at $147.03 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.26 and a beta of 0.73. The company’s 50-day moving average is $139.33 and its two-hundred day moving average is $128.31. Ingredion Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 EPS. Analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on INGR. Oppenheimer boosted their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays upped their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets upped their price objective 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s 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.

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.