Ingredion Incorporated (NYSE:INGR) Stock Holdings Trimmed by Truvestments Capital LLC

Truvestments Capital LLC lessened its position in shares of Ingredion Incorporated (NYSE:INGR) by 55.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,961 shares of the company’s stock after selling 2,447 shares during the quarter. Truvestments Capital LLC’s holdings in Ingredion were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after acquiring an additional 85 shares in the last quarter. Seelaus Asset Management LLC raised its holdings in shares of Ingredion by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after purchasing an additional 105 shares during the period. Conscious Wealth Investments LLC lifted its position in shares of Ingredion by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after buying an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 118 shares during the period. Finally, Delphi Management Inc. MA boosted its holdings in shares of Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of Ingredion 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 transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. The trade was 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 35,178 shares of company stock worth $4,848,837. 1.80% of the stock is owned by corporate insiders.

Ingredion Stock Performance

Shares of INGR stock opened at $148.24 on Tuesday. The business has a 50 day simple moving average of $138.33 and a 200 day simple moving average of $127.64. 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 $9.66 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. Ingredion Incorporated has a 12-month low of $100.90 and a 12-month high of $155.44.

Ingredion (NYSE:INGR) last released 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. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INGR. BMO Capital Markets raised their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer boosted their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays upped their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group raised 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average target price of $155.17.

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.