Shelton Capital Management Lowers Stock Position in Ingredion Incorporated (NYSE:INGR)

Shelton Capital Management lessened its stake in Ingredion Incorporated (NYSE:INGR) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,238 shares of the company’s stock after selling 117 shares during the period. Shelton Capital Management’s holdings in Ingredion were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Ingredion in the 4th quarter worth approximately $62,186,000. Envestnet Asset Management Inc. boosted its stake in shares of Ingredion by 254.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 652,183 shares of the company’s stock valued at $20,402,000 after purchasing an additional 468,332 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Ingredion by 98,458.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 354,810 shares of the company’s stock valued at $37,592,000 after purchasing an additional 354,450 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ingredion by 4,100.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock worth $29,704,000 after buying an additional 332,719 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Ingredion during the 2nd quarter valued at about $35,533,000. Institutional investors own 84.80% of the company’s stock.

Insider Buying and Selling

In other news, SVP David Eric Seip acquired 3,000 shares of Ingredion stock in a transaction on Tuesday, September 5th. The stock was acquired at an average cost of $98.50 per share, for a total transaction of $295,500.00. Following the purchase, the senior vice president now owns 18,035 shares in the company, valued at $1,776,447.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is currently owned by company insiders.

Ingredion Stock Performance

Shares of INGR opened at $103.02 on Tuesday. The company has a 50-day simple moving average of $96.87 and a two-hundred day simple moving average of $102.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.97 and a quick ratio of 1.07. The firm has a market capitalization of $6.72 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.03 and a beta of 0.81. Ingredion Incorporated has a one year low of $89.54 and a one year high of $113.46.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 7th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.38. Ingredion had a return on equity of 18.48% and a net margin of 7.61%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that Ingredion Incorporated will post 9.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INGR. StockNews.com assumed coverage on Ingredion in a research report on Thursday, October 5th. They issued a “buy” rating for the company. UBS Group increased their price target on shares of Ingredion from $132.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, November 13th. BMO Capital Markets decreased their price objective on shares of Ingredion from $125.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 9th. Oppenheimer began coverage on shares of Ingredion in a report on Thursday, September 28th. They set an “outperform” rating and a $120.00 target price for the company. Finally, Barclays cut their target price on Ingredion from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.50.

Ingredion Profile

Ingredion Incorporated, together with its subsidiaries, produces 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.