New York State Common Retirement Fund Boosts Position in Ingredion Incorporated (INGR)
New York State Common Retirement Fund increased its position in shares of Ingredion Incorporated (NYSE:INGR) by 21.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,983 shares of the company’s stock after acquiring an additional 56,079 shares during the period. New York State Common Retirement Fund owned about 0.43% of Ingredion worth $37,638,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in Ingredion by 87.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock worth $168,528,000 after purchasing an additional 651,035 shares during the period. LSV Asset Management increased its holdings in Ingredion by 20.2% during the 2nd quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock worth $155,408,000 after purchasing an additional 218,710 shares during the period. Principal Financial Group Inc. increased its holdings in Ingredion by 19.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock worth $146,670,000 after purchasing an additional 193,722 shares during the period. AJO LP increased its holdings in Ingredion by 2.8% during the 2nd quarter. AJO LP now owns 1,052,662 shares of the company’s stock worth $125,488,000 after purchasing an additional 28,372 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Ingredion by 1.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 999,894 shares of the company’s stock worth $119,197,000 after purchasing an additional 16,793 shares during the period. 83.44% of the stock is currently owned by hedge funds and other institutional investors.
INGR has been the topic of several recent research reports. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Wednesday, November 8th. BidaskClub downgraded Ingredion from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Jefferies Group set a $145.00 price target on Ingredion and gave the stock a “buy” rating in a report on Sunday, October 29th. Credit Suisse Group restated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Finally, Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ingredion has an average rating of “Buy” and a consensus target price of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.17. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business posted $1.96 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. sell-side analysts forecast that Ingredion Incorporated will post 7.71 earnings per share for the current year.
In related news, SVP Jorgen Kokke sold 20,674 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the transaction, the senior vice president now owns 23,119 shares in the company, valued at approximately $3,074,827. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Zallie sold 27,972 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 29,429 shares in the company, valued at approximately $3,690,102.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,508 shares of company stock worth $8,990,676. Company insiders own 1.92% of the company’s stock.
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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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