Ingredion Inc (NYSE:INGR) Position Trimmed by LPL Financial LLC

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LPL Financial LLC lowered its holdings in shares of Ingredion Inc (NYSE:INGR) by 31.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,418 shares of the company’s stock after selling 7,181 shares during the quarter. LPL Financial LLC’s holdings in Ingredion were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. AGF Investments Inc. grew its stake in Ingredion by 6.2% during the 1st quarter. AGF Investments Inc. now owns 2,236 shares of the company’s stock worth $212,000 after buying an additional 131 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Ingredion by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,330 shares of the company’s stock worth $1,017,000 after acquiring an additional 140 shares in the last quarter. Pflug Koory LLC raised its stake in Ingredion by 2.8% during the second quarter. Pflug Koory LLC now owns 5,135 shares of the company’s stock valued at $424,000 after buying an additional 140 shares in the last quarter. World Asset Management Inc grew its holdings in shares of Ingredion by 3.5% during the second quarter. World Asset Management Inc now owns 4,543 shares of the company’s stock valued at $375,000 after purchasing an additional 153 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of Ingredion by 65.4% during the second quarter. Advisory Services Network LLC now owns 407 shares of the company’s stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 87.81% of the company’s stock.

INGR has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Credit Suisse Group cut their target price on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Citigroup lowered their price target on shares of Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $102.33.

Shares of Ingredion stock traded up $0.09 on Thursday, reaching $82.92. 221,505 shares of the stock were exchanged, compared to its average volume of 480,259. The firm has a market cap of $5.56 billion, a PE ratio of 11.98 and a beta of 0.82. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.51 and a current ratio of 2.48. The firm’s 50 day moving average is $78.05 and its 200-day moving average is $84.36. Ingredion Inc has a one year low of $73.00 and a one year high of $107.52.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.06. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Ingredion had a net margin of 6.61% and a return on equity of 17.23%. Ingredion’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. On average, equities research analysts expect that Ingredion Inc will post 6.68 EPS for the current fiscal year.

In other news, SVP Larry Fernandes sold 2,200 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $82.53, for a total value of $181,566.00. Following the transaction, the senior vice president now directly owns 15,172 shares of the company’s stock, valued at $1,252,145.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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