Ingredion Incorporated (INGR) Holdings Trimmed by Axa
Axa lessened its position in shares of Ingredion Incorporated (NYSE:INGR) by 23.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 257,172 shares of the company’s stock after selling 78,460 shares during the quarter. Axa owned approximately 0.36% of Ingredion worth $30,658,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in Ingredion by 15.0% during the 2nd quarter. Franklin Resources Inc. now owns 8,667 shares of the company’s stock valued at $1,033,000 after purchasing an additional 1,129 shares during the period. Schroder Investment Management Group increased its position in Ingredion by 244.5% during the 2nd quarter. Schroder Investment Management Group now owns 675,062 shares of the company’s stock valued at $79,319,000 after purchasing an additional 479,087 shares during the period. LSV Asset Management increased its position in Ingredion by 20.2% during the 2nd quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock valued at $155,408,000 after purchasing an additional 218,710 shares during the period. Meiji Yasuda Life Insurance Co increased its position in Ingredion by 5.6% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 7,600 shares of the company’s stock valued at $906,000 after purchasing an additional 400 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Ingredion by 0.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 12,428 shares of the company’s stock valued at $1,608,000 after purchasing an additional 56 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.
In other news, VP James P. Zallie sold 3,048 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.92% of the stock is currently owned by insiders.
A number of research firms have weighed in on INGR. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research report on Wednesday. BidaskClub downgraded shares of Ingredion from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $141.00.
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Shares of Ingredion Incorporated (INGR) traded up 0.25% during mid-day trading on Friday, hitting $124.23. 242,371 shares of the stock traded hands. Ingredion Incorporated has a 52 week low of $113.07 and a 52 week high of $137.62. The firm’s 50-day moving average is $123.05 and its 200-day moving average is $120.21. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 18.68 and a beta of 0.60.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Ingredion Incorporated will post $7.61 earnings per share for the current year.
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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