Ingredion Incorporated (INGR) Shares Sold by Commerce Bank
Commerce Bank trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR) by 57.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,493 shares of the company’s stock after selling 3,395 shares during the quarter. Commerce Bank’s holdings in Ingredion were worth $297,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in INGR. BKD Wealth Advisors LLC increased its position in Ingredion by 6.1% in the 2nd quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock valued at $293,000 after acquiring an additional 141 shares during the period. Assetmark Inc. increased its position in Ingredion by 105.3% in the 1st quarter. Assetmark Inc. now owns 975 shares of the company’s stock valued at $118,000 after acquiring an additional 500 shares during the period. Mason Street Advisors LLC increased its position in Ingredion by 0.4% in the 1st quarter. Mason Street Advisors LLC now owns 33,915 shares of the company’s stock valued at $4,084,000 after acquiring an additional 124 shares during the period. Vanguard Group Inc. increased its position in Ingredion by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,407,053 shares of the company’s stock valued at $771,601,000 after acquiring an additional 20,051 shares during the period. Finally, Morgan Stanley increased its position in Ingredion by 41.1% in the 1st quarter. Morgan Stanley now owns 479,495 shares of the company’s stock valued at $57,744,000 after acquiring an additional 139,632 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.
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Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. BMO Capital Markets restated a “hold” rating and issued a $125.00 price target on shares of Ingredion in a research report on Tuesday, May 16th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $145.00 price target 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $141.00.
Ingredion Incorporated (NYSE:INGR) opened at 124.23 on Monday. The firm has a market capitalization of $8.91 billion, a PE ratio of 18.68 and a beta of 0.60. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $138.20. The firm has a 50-day moving average of $123.05 and a 200 day moving average of $120.21.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. Equities research analysts forecast that Ingredion Incorporated will post $7.61 earnings per share for the current year.
In other Ingredion news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.92% of the company’s stock.
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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