Gamco Investors INC. ET AL Cuts Stock Position in Ingredion Inc (NYSE:INGR)

Gamco Investors INC. ET AL lessened its stake in Ingredion Inc (NYSE:INGR) by 16.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 55,260 shares of the company’s stock after selling 10,999 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Ingredion were worth $4,517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Comerica Bank increased its holdings in Ingredion by 3.2% in the 2nd quarter. Comerica Bank now owns 32,714 shares of the company’s stock worth $2,627,000 after acquiring an additional 1,022 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Ingredion by 33.3% during the 2nd 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 acquired a new stake in Ingredion during the 3rd quarter worth $5,516,000. AGF Investments Inc. boosted its stake in Ingredion by 6.2% during the 2nd 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 acquired a new stake in Ingredion during the 2nd quarter worth $2,240,000. 87.80% of the stock is owned by institutional investors.

Shares of INGR opened at $84.62 on Friday. Ingredion Inc has a 52-week low of $73.00 and a 52-week high of $106.28. The company has a quick ratio of 1.53, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average is $80.52 and its two-hundred day moving average is $81.06. The stock has a market cap of $5.58 billion, a PE ratio of 12.23 and a beta of 0.81.

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

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

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

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

Ingredion Company Profile

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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