Ingredion Incorporated (NYSE:INGR) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 55.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,961 shares of the company’s stock after selling 2,447 shares during the period. Truvestments Capital LLC’s holdings in Ingredion were worth $270,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Ingredion by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after acquiring an additional 125,543 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after purchasing an additional 846,967 shares during the period. Massachusetts Financial Services Co. MA increased its position in Ingredion by 2.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after purchasing an additional 36,421 shares during the last quarter. Cooke & Bieler LP raised its stake in Ingredion by 2.7% during the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock worth $116,765,000 after purchasing an additional 27,087 shares during the period. Finally, Equity Investment Corp raised its stake in Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after purchasing an additional 26,526 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ingredion

In related news, SVP Larry Fernandes sold 4,700 shares of the 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 completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. This represents a 30.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,178 shares of company stock valued at $4,848,837. Corporate insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Shares of NYSE INGR opened at $148.24 on Tuesday. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. Ingredion Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44. The business has a 50-day moving average of $138.33 and a 200-day moving average of $127.64.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. On average, equities analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Analyst Ratings Changes

INGR has been the subject of a number of research analyst reports. UBS Group upped their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets raised their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.