Teachers Retirement System of The State of Kentucky Sells 570 Shares of Ingredion Incorporated (NYSE:INGR)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,953 shares of the company’s stock after selling 570 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ingredion were worth $2,879,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in INGR. Signaturefd LLC increased its stake in Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after acquiring an additional 85 shares during the last quarter. Seelaus Asset Management LLC boosted its holdings in shares of Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after purchasing an additional 105 shares during the period. Conscious Wealth Investments LLC increased its position in shares of Ingredion by 0.4% during the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after purchasing an additional 106 shares during the last quarter. Delphi Management Inc. MA increased its position in shares of Ingredion by 0.8% during the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after purchasing an additional 123 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Ingredion by 1.1% during the 3rd quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock valued at $1,728,000 after buying an additional 133 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,198 shares of company stock valued at $9,702,461 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on INGR. Stephens raised shares of Ingredion to a “hold” rating in a research note on Monday, December 2nd. UBS Group lifted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Barclays raised their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Trading Down 0.3 %

INGR stock opened at $144.31 on Friday. Ingredion Incorporated has a 12 month low of $105.78 and a 12 month high of $155.44. The firm’s 50-day moving average is $141.59 and its 200 day moving average is $130.51. The company has a market capitalization of $9.40 billion, a PE ratio of 14.08, a P/E/G ratio of 1.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. On average, research analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current year.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.