Unigestion Holding SA Cuts Stock Holdings in Ingredion Inc (NYSE:INGR)

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Unigestion Holding SA decreased its stake in shares of Ingredion Inc (NYSE:INGR) by 52.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,647 shares of the company’s stock after selling 7,304 shares during the period. Unigestion Holding SA’s holdings in Ingredion were worth $543,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Comerica Bank boosted its position in Ingredion by 3.2% in the second quarter. Comerica Bank now owns 32,714 shares of the company’s stock worth $2,627,000 after purchasing an additional 1,022 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Ingredion by 33.3% in the second quarter. Envestnet Asset Management Inc. now owns 58,332 shares of the company’s stock worth $4,812,000 after purchasing an additional 14,561 shares during the last quarter. Cypress Capital Management LLC purchased a new position in Ingredion in the third quarter worth $5,516,000. AGF Investments Inc. boosted its position in Ingredion by 6.2% in the second quarter. AGF Investments Inc. now owns 2,374 shares of the company’s stock worth $196,000 after purchasing an additional 138 shares during the last quarter. Finally, Virtus ETF Advisers LLC purchased a new position in Ingredion in the second quarter worth $2,240,000. 87.80% of the stock is currently owned by institutional investors.

Shares of INGR traded up $0.23 during mid-day trading on Friday, hitting $84.62. The stock had a trading volume of 301,780 shares, compared to its average volume of 536,351. The firm has a market cap of $5.58 billion, a P/E ratio of 12.23 and a beta of 0.81. The business has a fifty day moving average price of $80.52 and a 200-day moving average price of $81.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.53. Ingredion Inc has a 52 week low of $73.00 and a 52 week high of $106.28.

Ingredion (NYSE:INGR) last issued its earnings results on Thursday, October 31st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.09. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.46 billion. Ingredion had a return on equity of 17.69% and a net margin of 6.67%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 earnings per share. As a group, research analysts expect that Ingredion Inc will post 6.55 earnings per share for the current fiscal year.

The company also recently announced a 0.62500 dividend, which was paid on Friday, October 25th. Shareholders of record on Tuesday, October 1st were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a dividend yield of 3%. Ingredion’s payout ratio is presently 36.42%.

In other Ingredion news, SVP Larry Fernandes sold 2,200 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $82.53, for a total value of $181,566.00. Following the sale, the senior vice president now directly owns 15,172 shares in the company, valued at $1,252,145.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Several research analysts have weighed in on INGR shares. Zacks Investment Research raised Ingredion from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Stephens started coverage on Ingredion in a research report on Monday, October 7th. They issued an “overweight” rating and a $97.00 price objective on the stock. Citigroup cut their price objective on Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Credit Suisse Group cut their price objective on Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, ValuEngine raised Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $101.00.

About Ingredion

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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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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