Retirement Systems of Alabama Reduces Stake in Ingredion Incorporated (NYSE:INGR)

Retirement Systems of Alabama decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,524 shares of the company’s stock after selling 850 shares during the quarter. Retirement Systems of Alabama owned approximately 0.24% of Ingredion worth $17,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. &PARTNERS acquired a new position in Ingredion in the 2nd quarter valued at about $285,000. U S Global Investors Inc. acquired a new position in Ingredion in the second quarter valued at approximately $459,000. Fifth Third Wealth Advisors LLC acquired a new position in Ingredion in the second quarter valued at approximately $245,000. Paradiem LLC grew its position in Ingredion by 11.4% in the second quarter. Paradiem LLC now owns 81,918 shares of the company’s stock worth $9,396,000 after acquiring an additional 8,386 shares during the period. Finally, ZWJ Investment Counsel Inc. increased its stake in Ingredion by 1.6% during the second quarter. ZWJ Investment Counsel Inc. now owns 366,038 shares of the company’s stock worth $41,985,000 after acquiring an additional 5,676 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 0.6 %

Shares of INGR stock opened at $132.82 on Friday. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $133.33. The company has a 50 day moving average price of $120.60 and a 200 day moving average price of $117.23. The stock has a market capitalization of $8.72 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.32 earnings per share. Equities research analysts predict that Ingredion Incorporated will post 9.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 27,500 shares of Ingredion stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the completion of the transaction, the chief executive officer now owns 52,197 shares in the company, valued at approximately $6,073,642.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James P. Zallie sold 27,500 shares of Ingredion stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The disclosure for this sale can be found here. Insiders have sold a total of 28,695 shares of company stock worth $3,349,275 in the last quarter. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INGR has been the topic of several recent analyst reports. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $122.00 to $145.00 in a research note on Friday, August 9th. BMO Capital Markets increased their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer lifted their price target on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group lifted their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.33.

Ingredion Profile

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.