Martingale Asset Management L P Acquires 10,100 Shares of Ingredion Incorporated (INGR)
Martingale Asset Management L P raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 279,835 shares of the company’s stock after acquiring an additional 10,100 shares during the period. Martingale Asset Management L P owned approximately 0.39% of Ingredion worth $33,360,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Ingredion by 1,655.4% in the 1st quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock valued at $997,686,000 after buying an additional 7,812,440 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Ingredion by 6,380.0% in the 2nd quarter. Victory Capital Management Inc. now owns 745,917 shares of the company’s stock valued at $88,921,000 after buying an additional 734,406 shares during the period. Schroder Investment Management Group grew its holdings in shares of Ingredion by 244.5% in the 2nd quarter. Schroder Investment Management Group now owns 675,062 shares of the company’s stock valued at $79,319,000 after buying an additional 479,087 shares during the period. Wellington Management Group LLP grew its holdings in shares of Ingredion by 39.7% in the 1st quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock valued at $183,602,000 after buying an additional 433,572 shares during the period. Finally, PGGM Investments acquired a new position in shares of Ingredion in the 2nd quarter valued at $31,600,000. Institutional investors own 84.31% of the company’s stock.
In related news, VP James P. Zallie sold 3,048 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were 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 can be accessed through the SEC website. 1.92% of the stock is owned by company insiders.
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Several equities analysts have recently issued reports on INGR shares. BidaskClub raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and issued a $125.00 price target on shares of Ingredion in a report on Tuesday, May 16th. Zacks Investment Research lowered shares of Ingredion from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Ingredion currently has a consensus rating of “Hold” and a consensus price target of $141.00.
Shares of Ingredion Incorporated (INGR) traded up 0.25% during trading on Friday, hitting $124.23. 242,371 shares of the stock traded hands. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 18.68 and a beta of 0.60. The firm has a 50-day moving average of $123.05 and a 200-day moving average of $120.21. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $137.62.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that Ingredion Incorporated will post $7.61 earnings per share for the current year.
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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