BB&T Securities LLC increased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 6.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,567 shares of the company’s stock after buying an additional 1,119 shares during the quarter. BB&T Securities LLC’s holdings in Ingredion were worth $2,119,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after buying an additional 91 shares in the last quarter. WFG Advisors LP raised its position in Ingredion by 0.4% in the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after purchasing an additional 6 shares during the period. First Mercantile Trust Co. raised its position in Ingredion by 19.3% in the second quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock valued at $171,000 after purchasing an additional 232 shares during the period. Penserra Capital Management LLC raised its position in Ingredion by 17.2% in the second quarter. Penserra Capital Management LLC now owns 1,456 shares of the company’s stock valued at $173,000 after purchasing an additional 214 shares during the period. Finally, Pacer Advisors Inc. raised its position in Ingredion by 8.3% in the second quarter. Pacer Advisors Inc. now owns 1,506 shares of the company’s stock valued at $180,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 83.44% of the company’s stock.
In other news, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction on Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares of the company’s stock, valued at $3,690,102.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jorgen Kokke sold 20,674 shares of Ingredion stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the completion of the sale, the senior vice president now directly owns 23,119 shares of the company’s stock, valued at $3,074,827. The disclosure for this sale can be found here. Insiders sold 70,508 shares of company stock valued at $8,990,676 over the last ninety days. Insiders own 1.92% of the company’s stock.
Ingredion (NYSE:INGR) last posted its earnings results on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.17. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. equities analysts expect that Ingredion Incorporated will post 7.71 EPS for the current year.
A number of research firms have commented on INGR. BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Jefferies Group set a $145.00 target price on Ingredion and gave the company a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research report on Friday, September 29th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $140.00.
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Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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