Ingredion Incorporated (NYSE:INGR) Holdings Lowered by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR) by 15.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,425 shares of the company’s stock after selling 618 shares during the period. Peapack Gladstone Financial Corp’s holdings in Ingredion were worth $471,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INGR. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion during the second quarter valued at $33,000. Family Firm Inc. acquired a new position in Ingredion during the second quarter valued at $36,000. International Assets Investment Management LLC acquired a new position in Ingredion during the second quarter valued at $36,000. Prospera Private Wealth LLC acquired a new position in Ingredion during the third quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Ingredion during the second quarter valued at $56,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Performance

Shares of NYSE INGR opened at $144.31 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.24 and a beta of 0.74. The business’s 50-day simple moving average is $141.59 and its 200-day simple moving average is $130.62. Ingredion Incorporated has a 52 week low of $105.78 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating 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 return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 EPS. As a group, equities research analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,198 shares of company stock valued at $9,702,461. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on INGR shares. BMO Capital Markets upped their price target on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Stephens raised Ingredion to a “hold” rating in a research report on Monday, December 2nd. UBS Group upped their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Oppenheimer upped their target price on Ingredion from $147.00 to $178.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.17.

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.