Mutual of America Capital Management LLC lessened its holdings in Ingredion Inc (NYSE:INGR) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,271 shares of the company’s stock after selling 923 shares during the period. Mutual of America Capital Management LLC owned approximately 0.10% of Ingredion worth $7,376,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in INGR. Bank of New York Mellon Corp increased its holdings in Ingredion by 66.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,648,711 shares of the company’s stock worth $173,050,000 after purchasing an additional 660,285 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Ingredion in the 3rd quarter valued at about $60,506,000. FMR LLC boosted its position in shares of Ingredion by 49.3% in the 3rd quarter. FMR LLC now owns 1,480,245 shares of the company’s stock valued at $155,366,000 after purchasing an additional 488,810 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Ingredion by 848.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 533,197 shares of the company’s stock valued at $55,964,000 after purchasing an additional 476,973 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Ingredion by 19.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,061,660 shares of the company’s stock worth $216,392,000 after acquiring an additional 339,432 shares during the period. 85.28% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the company. Citigroup raised Ingredion from a “sell” rating to a “neutral” rating in a research report on Thursday, November 1st. Zacks Investment Research raised Ingredion from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. ValuEngine raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Jefferies Financial Group increased their price objective on Ingredion to $145.00 and gave the stock a “buy” rating in a research report on Monday, November 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $124.50.
In other news, VP Christine M. Castellano sold 37,267 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $105.30, for a total transaction of $3,924,215.10. Following the completion of the transaction, the vice president now directly owns 28,168 shares of the company’s stock, valued at approximately $2,966,090.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barbara A. Klein sold 1,775 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $103.46, for a total value of $183,641.50. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Ingredion stock opened at $102.01 on Thursday. Ingredion Inc has a twelve month low of $89.48 and a twelve month high of $146.28. The company has a quick ratio of 1.53, a current ratio of 2.50 and a debt-to-equity ratio of 0.55. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.34 and a beta of 0.63.
Ingredion (NYSE:INGR) last issued its earnings results on Thursday, November 1st. The company reported $1.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.70. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. As a group, research analysts forecast that Ingredion Inc will post 6.92 EPS for the current year.
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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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